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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
Georges Dionne and Scott E. Harrington
234
operations is costly, and that firms cannot add capital after claims are realized. In the
event of insolvency, Munch and Smallwood (1982) assume a loss of goodwill. Finsinger
and Pauly (1984) assume loss of an entry cost that otherwise would allow the firm to
continue operating (also see Tapiero et al., 1978). In both models firms will commit
capital ex ante to reduce the likelihood of insolvency.
55
Doherty and Tinic (1981), Doherty (1989, 2000), and Tapiero et al. (1986) consider
insurers’ capital decisions when demand for coverage is sensitive to insolvency risk.
Garven (1987) analyzes insolvency r
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Publisher Resources

ISBN: 9780444536853