Insuring Non-Verifiable Losses

Multi-User Non-Interactive Verifiable Computation

Gennaro et al. (Crypto 2010) introduced the notion of verifiable computation, which allows a computationally weak client to outsource the computation of a function F on dynamically chosen inputs x1, . . . , x` to a more powerful but untrusted server. Following a pre-processing phase (that is only carried out once), the client can send some representation of its input xi to the server; the serve...

Voluntary Agreements and Non-Verifiable Emissions

If pollution is observable, but some emissions cannot be verified by court, voluntary agreements between a regulator and an industry can be welfareimproving compared to second-best emission taxes. Such agreements differ from direct regulation in a non-trivial way. The first-best optimum may be included in the set of possible agreements, even if it is not attainable using tax instruments. The no...

Multi-Client Non-interactive Verifiable Computation

Gennaro et al. (Crypto 2010) introduced the notion of noninteractive verifiable computation, which allows a computationally weak client to outsource the computation of a function f on a series of inputs x, . . . to a more powerful but untrusted server. Following a preprocessing phase (that is carried out only once), the client sends some representation of its current input x to the server; the ...

Insuring Liability Risks

Insuring emerging markets

8 The Journal of financial transformation As a result of domestic and external factors, capital flows to emerging market economies are highly volatile. All too often, these economies experience severe financial distress, which in some instances lead them to the country-equivalent of bankruptcy. Recently, the IMF and the U.S. Treasury have come up with plans to facilitate an orderly restructurin...