Available online xxxx Keywords: Defective renewal equation Compound geometric distribution Ladder height Lundberg's fundamental equation Generalized adjustment coefficient Cramer's asymptotic ruin formula Esscher transform Last interclaim time NWU NBU a b s t r a c t The structure of various Gerber–Shiu functions in Sparre Andersen models allowing for possible dependence between claim sizes and...

We study surplus extraction in the general environment of McAfee and Reny (1992), provide two alternative proofs their main theorem. The first is an analogue classic argument Crémer McLean, 1985, 1988, using geometric features set agents' beliefs to construct a menu contracts extracting desired surplus. This argument, which requires finite state space, also leads counterexample showing that ful...

We derive bounds on the ratios of deadweight loss and consumer surplus to producer surplus under Cournot competition. To do so, we introduce a parameterization of the degree of curvature of market demand using the parallel concepts of ρ-concavity and ρ-convexity. The ”more concave” is demand, the larger the share of producer surplus in overall surplus, the smaller is consumer surplus relative t...

A significant and growing share of US agricultural output is produced under a production or marketing contract. An important controversy regarding agricultural production contracts is the control of non-labor inputs. Over time, contracts have tended to place more inputs under the buyer’s control and fewer under the farmer’s. This analysis examines the welfare effects of this trend. In the frame...

ECOSEL is a voluntary market framework for private provision of forest ecosystem services. 4 Multi-objective optimization is used in conjunction with a unique funding mechanism to generate and 5 market forest management alternatives that are projected to lead to efficient bundles of ecosystem 6 services on a piece of forestland. ECOSEL allows the public to bid on the competing alternatives. 7 W...

What do employers mean when they say that they face a ‘skill shortage’ at their establishment(s)? How employers conceive of skill shortages matters because they are the prime, often the only, source of information allowing judgments to be made about skills disequilibria. What employers say therefore affects general perceptions about the adequacy, or otherwise, of skills supplies. In Britain’s e...

Abstract The constrained equal welfare rule, f C E , distributes the surplus according to uniform gains method and, hence, equalizes of agents subsequent allocation process, subject making nobody worse off. We show that is unique rule on domain surplus-sharing problems satisfies efficiency, monotonicity, path independence, and weak less first imposing an egalitarian bound for allowing positive ...