This article examines the case of a risk-averse mining ¢rm facing a resource rent tax in order both to incorporate the role of the risk-sharing quality of such a tax and to assess its implications given a government's lease allocation system. The model develops the conditions required for an investment-neutral RRT characterised by a threshold rate of return …r† and a rate of tax …t† and suggest...

Although parents often try not to favor one child, we examine whether specific environmental factors might bias parents to favor children of one sex over the other. This research draws on theory in evolutionary biology suggesting that investment in female versus male offspring depends on resource availability. Applying this to consumers, a series of experiments show that poor economic condition...

Rüdiger Kiesel 1,*, Robin Rühlicke 1, Gerhard Stahl 2 and Jinsong Zheng 2 1 Chair for Energy Trading and Finance, University of Duisburg-Essen, Campus Essen, Universitätsstraße 12, Essen 45141, Germany; [email protected] 2 Group Risk Management, Talanx AG, Riethorst 2, Hannover 30659, Germany; [email protected] (G.S.); [email protected] (J.Z.) * Correspondence: ruediger.k...

Government institutions have responsibilities to distribute risk management funds meaningfully and to be accountable for their choices. We took a macro-level sociological approach to understanding the role of government in managing environmental risks, and insights from micro-level psychology to examine individual-level risk-related perceptions and beliefs. Survey data from 2,068 U.K. citizens ...

3 We integrate appealing features of Markowitz’s mean-variance portfolio theory (MVT) 4 and Shefrin and Statman’s behavioral portfolio theory (BPT) into a new mental accounting 5 (MA) framework. Features of the MA framework include an MA structure of portfolios, 6 a definition of risk as the probability of failing to reach the threshold level in each mental 7 account, and attitudes toward risk ...

The Euler (or gradient) allocation technique defines a financial institution’s marginal cost of a risk exposure via calculation of the gradient of a risk measure evaluated at the institution’s current portfolio position. The technique, however, relies on an arbitrary selection of a risk measure. We reverse the sequence of this approach by calculating the marginal costs of risk exposures for a p...