In this paper, we show that within the set of stochastic three-periodlived OLG economies with productive assets (such as land), markets are necessarily sequentially incomplete, and agents in the model do not share risk optimally. We start by characterizing perfect risk sharing and …nd that it requires a state-dependent consumption claims which depend only on the exogenous shock realizations. We...

Saving decisions are made jointly by household members who generally earn risky incomes. Consequently, to interpret saving patterns it is crucial to analyze the relationship between intrahousehold risk sharing and intertemporal choices. To that end in this paper the household is characterized as a group of agents with possibly heterogeneous preferences making efficient decisions. Two results ar...

This paper examines qualitative properties of efficient insurance contracts in the presence of background risk. In order to get results for all strictly risk averse expected utility maximizers, the concept of “stochastic increasingness” is used. Different assumptions on the stochastic dependence between the insurable and uninsurable risk lead to different qualitative properties of the efficient...

In this paper we identify a set of learning practices adopted by knowledge workers as they learn at work. We examine how key knowledge sharing behaviours: consuming, connecting, creating and contributing knowledge, are associated with these learning practices. Each learning practice brings together a combination of these components to form a distinct learning pathway, providing a baseline for r...

Control method for moving robotics in closed areas based on creation and sharing maps through shortest path findings and obstacle avoidance is proposed. Through simulation study, a validity of the proposed method is confirmed. Furthermore, the effect of map sharing among robotics is also confirmed together with obstacle avoidance with cameras and ultrasonic sensors. Keywords-domestic robotics; ...

Inthispaper,anovelvisualsecretsharing(VSS)schemeusingQRcodesisinvestigated.Theproposed visualsecretsharingschemebasedonQRcodes(VSSQR)canvisuallyrevealsecretimagebystacking sufficient(shadowimages)sharesaswellasscantheQRcodebyaQRcodereader.OurVSSQR exploitstheerrorcorrectionmechanismintheQRcodestructure,toembedthebitscorresponding ...