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Special Issue: The Stanford University Conference on Social Treatment of Catastrophic Risk || The Theory of Risk-Bearing: Small and Great Risks

โœ Scribed by KENNETH J. ARROW

Book ID
124631908
Publisher
Springer
Year
1996
Tongue
English
Weight
745 KB
Volume
12
Category
Article
ISSN
0895-5646

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๐Ÿ“œ SIMILAR VOLUMES

The theory of risk-bearing: Small and gr
The theory of risk-bearing: Small and great risks
โœ Kenneth J. Arrow ๐Ÿ“‚ Article ๐Ÿ“… 1996 ๐Ÿ› Springer ๐ŸŒ English โš– 532 KB

Under certain conditions, risk-sharing and, in particular, insurance are mutually advantageous transactions. An ideal competitive market fcr risk-shifting is described; the payments received by individuals depend on the resolution of all the uncertainties at the time of the market, including, for ex