Search results for "risk and uncertainty"
showing 4 items of 4 documents
Responsibility in uncertain times: an institutional perspective on precaution
2008
Precaution is a key issue in environmental governance. Variously defined, intensively debated and introduced in many regulations, its meaning, scope and application remain problematic. This article argues that the controversy on precaution is a matter of culturally patterned expectations concerning the production and use of knowledge and the related social positions and responsibilities. The way uncertainty and its role in the policy process are understood is crucial. For some precaution is a flawed concept, to be accommodated to the current expert-based cooperative scheme. For others it is a major innovation requiring a rearrangement of the latter. Precautionary policies may evolve in dif…
Unawareness and bankruptcy: A general equilibrium model
1998
International audience; We present a consistent pure-exchange general equilibrium model where agents may not be able to foresee all possible future contingencies. In this context, even with nominal assets and complete asset markets, an equilibrium may not exist without appropriate assumptions. Specific examples are provided. An existence result is proved under the main assumption that there are sufficiently many states that all the agents foresee. An intrinsic feature of the model is bankruptcy, which agents may involuntarily experience in the unforeseen states.
Perception du risque dépendance et demande d'assurance : une analyse à partir de l'enquête PATER
2013
Dans la littérature économique, de nombreux travaux tentent d'expliquer pourquoi les individus s’assurent aussi peu contre la dépendance. Du côté de l’offre, différents freins possibles au développement du marché de l’assurance dépendance ont d’ores et déjà été pointés du doigt par la littérature. Les estimations récentes montrent néanmoins que les limites imputables à l’offre ne suffisent pas à expliquer le faible développement du marché : même si les assurances étaient moins coûteuses et les couvertures proposées plus larges, la majorité des individus ne souscrirait toujours pas d’assurance. Il est donc nécessaire d’aller trouver des explications du côté de la demande d’assurance dépendan…
Modelling agricultural risk in a large scale positive mathematical programming model
2020
International audience; Mathematical programming has been extensively used to account for risk in farmers' decision making. The recent development of the positive mathematical programming (PMP) has renewed the need to incorporate risk in a more robust and flexible way. Most of the existing PMP-risk models have been tested at farm-type level and for a very limited sample of farms. This paper presents and tests a novel methodology for modelling risk at individual farm level in a large scale model, called individual farm model for common agricultural policy analysis (IFM-CAP). Results show a clear trade-off between including and excluding the risk specification. Albeit both alternatives provid…