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The Rich Domain of Uncertainty: Source Functions and Their Experimental Implementation

By Mohammed Abdellaoui, ´¡³Ü°ùé±ô¾±±ð²Ô Baillon, Laetitia Placido, and Peter P. Wakker

òòò½Íø Review, April 2011

We often deal with uncertain events for which no probabilities are known. Several normative models have been proposed. Descriptive studies have usually been qualitative, or they estimated ambiguity aversion through one single number. This paper introduces...

Safety Traps

By Kenza Benhima and Baptiste Massenot

òòò½Íø Journal: Macroeconomics, October 2013

Fear of risk provides a rationale for protracted economic downturns. We develop a real business cycle model where investors with decreasing relative risk aversion choose between a risky and a safe technology that exhibit decreasing returns. Because of ...

Controlling Automobile Insurance Costs

By J. David Cummins and Sharon Tennyson

Journal of Economic Perspectives, Spring 1992

We begin by providing an overview of the auto insurance system and the structure of the auto insurance market. We then turn to an analysis of the factors underlying the auto insurance price increases experienced in recent years. We find that the auto insu...

Symposium on Economic Transition in the Soviet Union and Eastern Europe

[Symposium: Economic Transition in the Soviet Union and Eastern Europe]

By Peter Murrell

Journal of Economic Perspectives, Fall 1991

This symposium examines the economic problems facing the reforming countries of the Soviet Union and Eastern Europe, the interrelationships between these problems, and current knowledge on how to deal with them. The word "reform" is surely a misnomer for ...

Policy Watch: Antitrust Goes to College

By Steven C. Salop and Lawrence J. White

Journal of Economic Perspectives, Summer 1991

It may have come as a shock to many economists, especially those in academia, to learn that the Antitrust Division of the U.S. Department of Justice (DOJ) has been investigating alleged price fixing and information exchange of financial aid among 23 prest...