منابع مشابه
Managing Environmental Risk through Insurance
Risk is inherent in all human activities, both personal and professional. While the number and variety of risks have grown and changed dramatically throughout history, the basics remain the same: risk of loss of life, limb, health, livelihood, or property due to predictable events (reduced income upon reaching the mandatory retirement age) or to unpredictable events (loss of life in an earthqua...
متن کامل4. Managing environmental risk through insurance
Risk is inherent in all human activities, both personal and professional. While the number and variety of risks have grown and changed dramatically throughout history, the basics remain the same: risk of loss of life, limb, health, livelihood, or property due to predictable events (reduced income upon reaching the mandatory retirement age) or to unpredictable events (loss of life in an earthqua...
متن کاملEnvironmental Risk Insurance under Dynamic Moral Hazard∗
A firm is subject to accident risk, which the manager can mitigate by exerting effort. An agency problem arises because effort is unobservable and the manager has limited liability. The occurrence of accidents is modelled as a Poisson process, whose intensity is controlled by the manager. We use martingale techniques to formulate the manager’s incentive compatibility constraints. The optimal co...
متن کاملDrilling Like There's No Tomorrow: Bankruptcy, Insurance, and Environmental Risk
When liability is limited by bankruptcy, theory says that firms will take excessive environmental and public health risks. In the long run, this “judgmentproof problem” may increase the share of small producers, even when there are economies of scale. I use quasi-experimental variation in liability exposure to measure the effects of bankruptcy protection on industry structure and environmental ...
متن کاملPollution: Treating Environmental Toxins
Maczulak AE. Pollution: Treating Environmental Toxins. New York, NY: Infobase Publishing; 2010. p. x+232. ISBN: 978-1-4381-2633-3
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2002
ISSN: 1556-5068
DOI: 10.2139/ssrn.342960