This open access book is a groundbreaking exploration of systemic risk in modern financial systems. Through its theoretical and empirical investigations, it reveals the multidimensionality of systemic risk, the transmission channels of crises, and the interlinkages between physical, transition, and financial risks. It introduces cutting-edge methodologies, including prediction and optimization …
This open access book addresses the future of work and industry by 2040—a core interest for many disciplines inspiring a strong momentum for employment and training within the industrial world. The future of industrial safety in terms of technological risk-management, although of obvious concern to international actors in various industries, has been quite sparsely addressed. This brief refle…
In this work, the authors deliver an analysis of how the US currently mitigates, insures against, and finances recovery from natural disasters.OCLC-licensed vendor bibliographic record.
Essays by leading economic thinkers reflecting the influence of 2001 Nobel Prize winner Joseph E. Stiglitz. Throughout Joseph Stiglitz's long and distinguished career in economics, the focus has been on the real world, with all of its imperfections. His 2001 Nobel Prize recognized his pioneering research in imperfect information; his work in other areas, including macroeconomics, public economi…
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…
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…
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…
"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.
Papers presented at a conference cosponored by the Federal Reserve Bank of Chicago and the Bank for International Settlements, held on Oct. 30 to Nov. 1, 2003, at the Federal Reserve Bank of Chicago.Leading academics and policymakers address the theory of market discipline and consider evidence across different industries and countries.The effectiveness of market discipline--the strong built-in…
Failed or abandoned software development projects cost the U.S. economy alone billions of dollars a year. In Software Development Failures, Kweku Ewusi-Mensah offers an empirically grounded study that suggests why these failures happen and how they can be avoided. Case studies analyzed include the well-known Confirm travel industry reservation program, FoxMeyer's Delta, the IRS's Tax System Mod…