Increased Risk Bearing With Background Risk

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Increased Risk Bearing with Background Risk

Author : Edward E. Schlee
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Increased Risk Bearing with Background Risk by : Edward E. Schlee

Download or read book Increased Risk Bearing with Background Risk written by Edward E. Schlee and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many analyses of risk taking behavior assume that an agent faces only a single risk. Typically, however, an agent faces many risks simultaneously, and the interaction between risks may well affect how much of any particular risk an agent should bear. Ross (1981) and Kihlstrom, Romer, and Williams (1981) showed that the comparative statics of increased risk aversion in the two asset portfolio model are not robust to the addition of background risk, even under strong independence assumptions between the risks. In this paper we give sufficient and necessary conditions on changes in a risky asset's distribution that increase risk taking in the presence of background risk. We find that the comparative statics of changes in risk are fairly robust to background risk. We present results for changes in each of the conditional distributions of the primary risk (keeping the marginal distribution of the background risk fixed) and for changes in the marginal distribution of the primary risk (keeping each conditional distribution of the background risk fixed). For the former question a modification of Gollier's (1995) Linear Stochastic Dominance is necessary and sufficient; for the latter Monotone Likelihood Ratio Dominance is necessary and sufficient. We also consider other applications, including the two risky asset portfolio problem.

The Size of Background Risk and the Theory of Risk Bearing

Author : Guenter Franke
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The Size of Background Risk and the Theory of Risk Bearing by : Guenter Franke

Download or read book The Size of Background Risk and the Theory of Risk Bearing written by Guenter Franke and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We establish a necessary and sufficient condition for the risk aversion of an agent's derived utility function to increase with independent, zero-mean background risk. This condition is weaker than standard risk aversion. For small risks, the condition is that the ratio of the third to the first derivative of the utility function is decreasing in income. In a market with state-contingent marketable claims, an increase in background risk, which raises the agent's derived risk aversion, reduces the slope of the agent's optimal sharing rule. Under a weak aggregation condition, an increase of background risk for many agents in the economy raises the prices of marketable claims in states with a low level of marketable aggregate income relative to the prices in states with a higher level of such income.

Risk and Risk-bearing

Author : Charles Oscar Hardy
Publisher :
ISBN 13 :
Total Pages : 428 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Risk and Risk-bearing by : Charles Oscar Hardy

Download or read book Risk and Risk-bearing written by Charles Oscar Hardy and published by . This book was released on 1923 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Size of Background Risk and the Theory of Risk Bearing

Author : Günter Franke
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The Size of Background Risk and the Theory of Risk Bearing by : Günter Franke

Download or read book The Size of Background Risk and the Theory of Risk Bearing written by Günter Franke and published by . This book was released on 2008 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider the demand for state contingent claims in the presence of a zero-mean, non-hedgeable background risk. An agent is defined to be generalized risk averse if he/she reacts to an increase in background risk by choosing a demand function for contingent claims with a less steep slope. We show that the conditions for standard risk aversion: positive, declining absolute risk aversion and prudence are necessary and sufficient for generalized risk aversion.

Essays in the Theory of Risk-bearing

Author : Kenneth Joseph Arrow
Publisher :
ISBN 13 :
Total Pages : 296 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Essays in the Theory of Risk-bearing by : Kenneth Joseph Arrow

Download or read book Essays in the Theory of Risk-bearing written by Kenneth Joseph Arrow and published by . This book was released on 1974 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Size of Background Risk and the Theory of Risk Bearing

Author : Günter Franke
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (353 download)

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Book Synopsis The Size of Background Risk and the Theory of Risk Bearing by : Günter Franke

Download or read book The Size of Background Risk and the Theory of Risk Bearing written by Günter Franke and published by . This book was released on 1996 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Conceiving Risk, Bearing Responsibility

Author : Elizabeth M. Armstrong
Publisher : JHU Press
ISBN 13 : 0801899419
Total Pages : 308 pages
Book Rating : 4.8/5 (18 download)

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Book Synopsis Conceiving Risk, Bearing Responsibility by : Elizabeth M. Armstrong

Download or read book Conceiving Risk, Bearing Responsibility written by Elizabeth M. Armstrong and published by JHU Press. This book was released on 2008-07-28 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: In American society, the consumption of alcohol during pregnancy is considered dangerous, irresponsible, and in some cases illegal. Pregnant women who have even a single drink routinely face openly voiced reproach. Yet fetal alcohol syndrome (FAS) in infants and children is notoriously difficult to diagnose, and the relationship between alcohol and adverse birth outcomes is riddled with puzzles and paradoxes. Sociologist Elizabeth M. Armstrong uses fetal alcohol syndrome and the problem of drinking during pregnancy to examine the assumed relationship between somatic and social disorder, the ways in which social problems are individualized, and the intertwining of health and morality that characterizes American society. She traces the evolution of medical knowledge about the effects of alcohol on fetal development, from nineteenth-century debates about drinking and heredity to the modern diagnosis of FAS and its kindred syndromes. She argues that issues of race, class, and gender have influenced medical findings about alcohol and reproduction and that these findings have always reflected broader social and moral preoccupations and, in particular, concerns about women's roles and place in society, as well as the fitness of future generations. Medical beliefs about drinking during pregnancy have often ignored the poverty, chaos, and insufficiency of some women's lives—factors that may be more responsible than alcohol for adverse outcomes in babies and children. Using primary sources and interviews to explore relationships between doctors and patients and women and their unborn children, Armstrong offers a provocative and detailed analysis of how drinking during pregnancy came to be considered a pervasive social problem, despite the uncertainties surrounding the epidemiology and etiology of fetal alcohol syndrome.

Handbook of Insurance

Author : Georges Dionne
Publisher : Springer Science & Business Media
ISBN 13 : 1461401550
Total Pages : 1133 pages
Book Rating : 4.4/5 (614 download)

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Book Synopsis Handbook of Insurance by : Georges Dionne

Download or read book Handbook of Insurance written by Georges Dionne and published by Springer Science & Business Media. This book was released on 2013-12-02 with total page 1133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.

Aspects of the Theory of Risk-bearing

Author : Kenneth Joseph Arrow
Publisher : Helsinki : Yrjö Jahnsonian Sä ̈tiö
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Aspects of the Theory of Risk-bearing by : Kenneth Joseph Arrow

Download or read book Aspects of the Theory of Risk-bearing written by Kenneth Joseph Arrow and published by Helsinki : Yrjö Jahnsonian Sä ̈tiö. This book was released on 1965 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Government Risk-Bearing

Author : Mark S. Sniderman
Publisher : Springer Science & Business Media
ISBN 13 : 9401121842
Total Pages : 197 pages
Book Rating : 4.4/5 (11 download)

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Book Synopsis Government Risk-Bearing by : Mark S. Sniderman

Download or read book Government Risk-Bearing written by Mark S. Sniderman and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: The u.s. government bulks large in the nation's financial markets. The huge volume of government-issued and -sponsored debt affects the pricing and volume ofprivate debt and, consequently, resource allocation between competing alternatives. What is often not fully appreciated is the substantial influence the federal government wields overresource allocation through its provisionofcreditandrisk-bearing services to the private economy. Because peopleand firms generally seekto avoid risk, atsomeprice they are willing to pay another party to assume the risk they would otherwise face. Insurance companies are a class of private-sector firms one commonly thinks of as providing these services. As the federal government has expanded its presence in the U.S. economy during this century, it has increasingly developed programs aimed at bearing risks that the private sector either would not take on at any price, or would take on but atapricethoughtto besogreatthatmostpotentialbeneficiarieswouldnotpurchase the coverage. Today, roughly three-fifths of all nonfederal credit outstanding is 1 assisted by some form of federal program. The federal government provides insurance of many private pension plans through the Pension Benefit Guaranty Corporation, subsidizesand implicitly guarantees the liabilitiesofseveral agencies dominating secondary loan markets (for example, the Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, and Student Loan Mar ketingAssociation),andeithermakesdirectloansorguaranteesprivatelygenerated loans through a varietyofcreditprograms to farmers, exporters, home purchasers, and others.

Handbook of Risk and Insurance Strategies for Certified Public Risk Officers and other Water Professionals

Author : Frank Spellman
Publisher : CRC Press
ISBN 13 : 1000449262
Total Pages : 1100 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Handbook of Risk and Insurance Strategies for Certified Public Risk Officers and other Water Professionals by : Frank Spellman

Download or read book Handbook of Risk and Insurance Strategies for Certified Public Risk Officers and other Water Professionals written by Frank Spellman and published by CRC Press. This book was released on 2021-10-19 with total page 1100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book serves as a technical yet practical risk management manual for professionals working with water and wastewater organizations. It provides readers with a functional comprehension of water and wastewater operations as well as a broad understanding of industry derivations and various stakeholder interconnectivity. This knowledge is imperative, as most administrative professionals are proficient in their respective areas of expertise but sometimes lack fluency on the broader technical aspects of their organization’s purpose, operations, and externalities. It also examines risk management best practices and provides an actionable review of doing the right thing, the right way, every time through a combination of core risk management principles. These include enterprise, strategic, operational, and reputational risk management, as well as risk assessments, risk/frequency matrixes, checklists, rules, and decision-making processes. Finally, the book addresses the importance of risk transfer through insurance policies and provides best practices for the prudent selection of these policies across different scenarios. Features: Provides an understanding of water and wastewater technical operations to properly implement sound risk management and insurance programs. Emphasizes the importance of building well-designed, resilient systems, such as policies, processes, procedures, protocol, rules, and checklists that are up to date and fully implemented across a business. Offers a detailed look into insurance policy terms and conditions and includes practical checklists to assist readers in structuring and negotiating their own policies. Handbook of Risk and Insurance Strategies for Certified Public Risk Officers and Other Water Professionals combines practical knowledge of technical water/wastewater operations along with the core subjects of risk management and insurance for practicing and aspiring professionals charged with handling these vital tasks for their organizations. Readers will also gain invaluable perspective and knowledge on best-in-class risk management and insurance practices in the water and wastewater industries.

Handbook of Research on the Strategic Management of Family Businesses

Author : Palma-Ruiz, Jesús Manuel
Publisher : IGI Global
ISBN 13 : 1799822710
Total Pages : 539 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Handbook of Research on the Strategic Management of Family Businesses by : Palma-Ruiz, Jesús Manuel

Download or read book Handbook of Research on the Strategic Management of Family Businesses written by Palma-Ruiz, Jesús Manuel and published by IGI Global. This book was released on 2020-01-10 with total page 539 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on family business has developed significantly over the last years. However, efforts remain to summarize and systematize the main aspects that affect the behavior of this type of company. In this regard, the topic of strategic management has been developed. In this sense, it is especially important to recognize how the family decisively influences the behavior of the company and also to identify how the existence of the company affects family dynamics. Those who manage family businesses, whether family or not, must reconcile both perspectives (business and family) in the definition of strategic objectives, allowing sustainability and continuity in this type of organization. The Handbook of Research on the Strategic Management of Family Businesses provides emerging research that covers how strategic management in the family business has been developed and identifies the objectives that sustain this strategic behavior, the main areas of analysis (family and business), the definition of strategies, and their implementation. Also, the authors of this book review the different scenarios for family firms and propose strategies to tackle the challenges and seize the possibilities to grow in a competitive and dynamic environment. Featuring coverage on a broad range of topics such as human capital, organizational leadership, and knowledge creation, this book is ideally designed for family firms, managers, advisors, consultants, policymakers, business professionals, executives, entrepreneurs, researchers, academicians, and students.

Mutual Funds

Author : John Haslem
Publisher : John Wiley & Sons
ISBN 13 : 1405142030
Total Pages : 592 pages
Book Rating : 4.4/5 (51 download)

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Book Synopsis Mutual Funds by : John Haslem

Download or read book Mutual Funds written by John Haslem and published by John Wiley & Sons. This book was released on 2009-02-09 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative book enables readers to evaluate the variousperformance and risk attributes of mutual funds, while also servingas a comprehensive resource for students, academics, and generalinvestors alike. Avoiding the less useful descriptive approach tofund selection, this book employs a balanced approach includingboth technique and application. The chapters combine clearsummaries of existing research with practical guidelines for mutualfund analysis. Enables readers to analyze mutual funds by evaluating a fund'svarious performance and risk attributes. Includes templates, which provide an efficient, sound approachto fund analysis, interpretation of results, buy/sell decisions,and the timing of decisions. Combines clear summaries of existing research with practicalguidelines for mutual fund analysis.

Growth at Risk: Concept and Application in IMF Country Surveillance

Author : Mr.Ananthakrishnan Prasad
Publisher : International Monetary Fund
ISBN 13 : 1498301347
Total Pages : 39 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Growth at Risk: Concept and Application in IMF Country Surveillance by : Mr.Ananthakrishnan Prasad

Download or read book Growth at Risk: Concept and Application in IMF Country Surveillance written by Mr.Ananthakrishnan Prasad and published by International Monetary Fund. This book was released on 2019-02-21 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growth-at-risk (GaR) framework links current macrofinancial conditions to the distribution of future growth. Its main strength is its ability to assess the entire distribution of future GDP growth (in contrast to point forecasts), quantify macrofinancial risks in terms of growth, and monitor the evolution of risks to economic activity over time. By using GaR analysis, policymakers can quantify the likelihood of risk scenarios, which would serve as a basis for preemptive action. This paper offers practical guidance on how to conduct GaR analysis and draws lessons from country case studies. It also discusses an Excel-based GaR tool developed to support the IMF’s bilateral surveillance efforts.

Risk Management

Author : Thomas Wolke
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110432455
Total Pages : 404 pages
Book Rating : 4.1/5 (14 download)

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Book Synopsis Risk Management by : Thomas Wolke

Download or read book Risk Management written by Thomas Wolke and published by Walter de Gruyter GmbH & Co KG. This book was released on 2017-09-25 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the English edition of the German third edition, which has proven to be a standard work on the subject of risk management. The English edition extends the scope of use to the English-language bachelor's and master's degree courses in economics and for potential use (especially as a reference work) in the professional practice of risk management. The subject of the book is company-wide risk management based on the Value at Risk concept. This includes quantitative and qualitative risk measurement, risk analysis based on the RoRaC and various management tools for risk control. Other topics covered are the peculiarities of the various risk types, e.g. risk management of the effects of climate change, the global financial crisis and risk reporting. The book is rounded off by a comprehensive case study, in which all aspects are summarized. The volume is thus an indispensable standard work for students and practitioners.

Ebook: Managerial Economics and Organizational Architecture

Author : Brickley
Publisher : McGraw Hill
ISBN 13 : 0077175301
Total Pages : 836 pages
Book Rating : 4.0/5 (771 download)

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Book Synopsis Ebook: Managerial Economics and Organizational Architecture by : Brickley

Download or read book Ebook: Managerial Economics and Organizational Architecture written by Brickley and published by McGraw Hill. This book was released on 2015-05-16 with total page 836 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ebook: Managerial Economics and Organizational Architecture

Finance Essentials

Author : Scott Moeller
Publisher : Bloomsbury Publishing
ISBN 13 : 1849300593
Total Pages : 639 pages
Book Rating : 4.8/5 (493 download)

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Book Synopsis Finance Essentials by : Scott Moeller

Download or read book Finance Essentials written by Scott Moeller and published by Bloomsbury Publishing. This book was released on 2012-04-26 with total page 639 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collated by Scott Moeller of Cass Business School, this collection brings together the informative articles a budding finance practitioner needs to operate effectively in today's corporate environment. Bringing together core finance knowledge and cutting-edge research topics in an engaging and effective way, this text is the ideal companion for all practitioners and students of finance. You will find insights into the practical applications of theory in key areas such as balance sheets and cash flow, financial regulation and compliance, funding and investment, governance and ethics, mergers and acquisitions, and operations and performance. Contributors to this collection include some of the leading experts in their respective fields: Aswath Damodaran, Harold Bierman, Jr, Andreas Jobst, Frank J. Fabozzi, Ian Bremmer, Javier Estrada, Marc J. Epstein, Henrik Cronqvist, Daud Vicary Abdullah, Meziane Lasfer, Dean Karlan, Norman Marks, Seth Armitage, and many others. In this collection you will discover: * Over 80 best-practice articles, providing the best guidance on issues ranging from risk management and capital structure optimization through to market responses to M&A transactions and general corporate governance * Over 65 checklists forming step-by-step guides to essential tasks, from hedging interest rates to calculating your total economic capital * 55 carefully selected calculations and ratios to monitor firms' financial health * A fully featured business and finance dictionary with over 5,000 definitions