منابع مشابه
Uncertainty , Risk Aversion and International Trade ∗
This paper develops a general equilibrium model of international trade in homogenous intermediate inputs. In the model, trade between countries is driven by uncertainty in the delivery of inputs. Because their managers are risk-averse, final good firms contract with multiple suppliers to decrease the variability of their profits. The analysis shows that risk diversification provides an incentiv...
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Risk management is the underlying paradigm necessary to mitigate the impact of adverse outcomes such as financial crises, energy shortages, oil disasters, global supply chain disruptions, and a myriad of other potentially catastrophic large-scale system failures. This seminar series serves as a platform to bring together diverse perspectives, problem definitions and solutions that transcend dis...
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We study the exploitation of a one species forest plantation when timber price is uncertain. The work focuses on providing optimality conditions for the optimal harvesting policy in terms of the parameters of the price process and the discount factor. We use risk averse stochastic dynamic programming and use the Conditional Value-at-Risk (CVaR) as our main risk measure. We consider two importan...
متن کاملInequality aversion and risk aversion
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ژورنال
عنوان ژورنال: Brazilian Review of Econometrics
سال: 1998
ISSN: 1980-2447
DOI: 10.12660/bre.v18n11998.2842