Stabsseminar ved Sjur D. Flåm

Professor Sjur D. Flåm fra Institutt for økonomi ved UiB holder stabsseminar ved Institutt for foretaksøkonomi fredag 26.11.

Tema er Mutual Insurance and Core Solutions

Tid og sted:
Fredag 26. november kl. 1215-1330
i Karl Borchs Auditorium

Abstract
We consider risk-averse owners of stochastic-yield assets, not
neces-sarily financial. Any coalition of such owners can, in principle,
pool their claims (dividends) and thus smoothen members' outcomes over
time and contingencies. This possibility generates a transferableutility
game in which cooperative incentives are strong enough to allow core
solutions. In fact, we shall "compute" specific core elements via a
Lagrangian dual pro-gram associated to the grand coalition.
Key words: cooperative games, transferable utility, core, risk,
insurance, stochastic Lagrange multipliers.
JEL classification: C71.

Paper kan hentes hos Turid Gabrielsen på rom C512, tel. 284 eller på epost Turid Gabrielsen