Some Aspects of Risk Sharing in Nonclassical Environments
dc.contributor.author | Nalebuff, Barry J. | en_US |
dc.contributor.author | Varian, Hal R. | en_US |
dc.date.accessioned | 2013-11-14T23:21:49Z | |
dc.date.available | 2013-11-14T23:21:49Z | |
dc.date.issued | 1981-01 | en_US |
dc.identifier.other | MichU DeptE CenREST RSQE C36 | en_US |
dc.identifier.other | D810 | en_US |
dc.identifier.other | O300 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/100889 | |
dc.description.abstract | Under the usual convexity assumptions concerning technology the tendency to diversity to reduce risk and the tendency to diversify to achieve technological efficiency reinforce each other. In nonclassical environments, where technology may be nonconvex, these two goals may be in conflict. We present several examples of this phenomenon and show how risk sharing arrangements can eliminate this conflict. We also consider the effects of introducing nonconcavities into the objective function of certain resource allocation problems. | en_US |
dc.description.sponsorship | Center for Research on Economic and Social Theory, Research Seminar in Quantitative Economics, Department of Economics, University of Michigan | en_US |
dc.relation.ispartofseries | Discussion Paper | en_US |
dc.subject | Diversification Principle | en_US |
dc.subject | Risk Sharing | en_US |
dc.subject | Economies of Scale | en_US |
dc.subject | Risk Pooling | en_US |
dc.subject.other | Criteria for Decision-Making Under Risk and Uncertainty | en_US |
dc.subject.other | Technological Change | en_US |
dc.subject.other | Research and Development: General | en_US |
dc.title | Some Aspects of Risk Sharing in Nonclassical Environments | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Social Sciences | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/100889/1/ECON340.pdf | |
dc.owningcollname | Economics, Department of - Working Papers Series |
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Economics, Department of - Working Papers Series
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