This book updates and advances the theory of expected utility as applied to risk analysis and financial decision making. Von Neumann and Morgenstern pioneered the use of expected utility theory in the 1940s, but most utility functions used in financial management are still relatively simplistic and assume a mean-variance world. Taking into account recent advances in the economics of risk and un…
Before Fukushima, the most notorious large-scale nuclear accident the world had seen was Chernobyl in 1986. The fallout from Chernobyl covered vast areas in the Northern Hemisphere, especially in Europe. Belarus, at the time a Soviet republic, suffered heavily: nearly a quarter of its territory was covered with long-lasting radionuclides. Yet the damage from the massive fallout was largely impe…
The Nature of the Farm is a theoretical and empirical study of contracts and organization in agriculture based on the transaction cost framework. Transaction costs are important in agriculture because nature (for example, seasonality, weather, pests) plays such a critical role in determining output and limiting the ability of farmers to specialize. The book develops specific models and tests th…
From the Publisher: Fundamental change occurs most often in one of two ways: as a "fatal discontinuity," a sudden catastrophic event that is potentially world changing, or as a persistent, gradual trend. Global catastrophes include volcanic eruptions, viral pandemics, wars, and large-scale terrorist attacks; trends are demographic, environmental, economic, and political shifts that unfold over …
From the Publisher: Fundamental change occurs most often in one of two ways: as a "fatal discontinuity," a sudden catastrophic event that is potentially world changing, or as a persistent, gradual trend. Global catastrophes include volcanic eruptions, viral pandemics, wars, and large-scale terrorist attacks; trends are demographic, environmental, economic, and political shifts that unfold over …
How the US Environmental Protection Agency designed the governance of risk and forged its legitimacy over the course of four decades. The US Environmental Protection Agency was established in 1970 to protect the public health and environment, administering and enforcing a range of statutes and programs. Over four decades, the EPA has been a risk bureaucracy, formalizing many of the methods of t…
Offering a framework for understanding the reasons for the regulatory shift from a microprudential to a macroprudential approach to financial regulation, this book provides a list of challenges in the implementation of macroprudential policy and a discussion on its limitations. --OCLC-licensed vendor bibliographic record.
Challenges to security and human rights involving extractive and other industries are addressed in a framework known as business and human rights (BHR), which shares many challenges and goals with SSR. This paper describes the grounds where BHR and SSR coincide in principles, actors and activities and which synergies can be built on that base. Opportunities for bridging BHR and SSR are drawn fr…
"Traces the cyberinsurance industry's history, challenges, and legal disputes to understand why insurance has not helped to strengthen cybersecurity and what governments could do to make it a more effective tool for cyber risk management"--OCLC-licensed vendor bibliographic record.
From the Publisher: Fundamental change occurs most often in one of two ways: as a "fatal discontinuity," a sudden catastrophic event that is potentially world changing, or as a persistent, gradual trend. Global catastrophes include volcanic eruptions, viral pandemics, wars, and large-scale terrorist attacks; trends are demographic, environmental, economic, and political shifts that unfold over …