scholarly journals Optimal Risk Sharing in Society

Mathematics ◽  
2022 ◽  
Vol 10 (1) ◽  
pp. 161
Author(s):  
Knut K. Aase
Keyword(s):  
General Theory ◽  
Risk Sharing ◽  
Economic Effects ◽  
Competitive Market ◽  
Decision Under Uncertainty ◽  
Main Message ◽  
Special Case ◽  
Optimal Risk Sharing ◽  
Reinsurance Market

We consider risk sharing among individuals in a one-period setting under uncertainty that will result in payoffs to be shared among the members. We start with optimal risk sharing in an Arrow–Debreu economy, or equivalently, in a Borch-style reinsurance market. From the results of this model we can infer how risk is optimally distributed between individuals according to their preferences and initial endowments, under some idealized conditions. A main message in this theory is the mutuality principle, of interest related to the economic effects of pandemics. From this we point out some elements of a more general theory of syndicates, where in addition, a group of people are to make a common decision under uncertainty. We extend to a competitive market as a special case of such a syndicate.

Extreme self-sacrifice beyond fusion: Moral expansiveness and the special case of allyship

2018 ◽  
Vol 41 ◽  
Author(s):  
Daniel Crimston ◽  
Matthew J. Hornsey
Keyword(s):  
General Theory ◽  
Biological Markers ◽  
Natural Environment ◽  
Relevant Dimension ◽  
Special Case

AbstractAs a general theory of extreme self-sacrifice, Whitehouse's article misses one relevant dimension: people's willingness to fight and die in support of entities not bound by biological markers or ancestral kinship (allyship). We discuss research on moral expansiveness, which highlights individuals’ capacity to self-sacrifice for targets that lie outside traditional in-group markers, including racial out-groups, animals, and the natural environment.

Hypo-elasticity and plasticity

1956 ◽  
Vol 234 (1196) ◽  
pp. 46-59 ◽  
Keyword(s):  
General Theory ◽  
Constitutive Equations ◽  
Work Hardening ◽  
Strain Curve ◽  
Simple Extension ◽  
Logarithmic Strain ◽  
Elasticity Equations ◽  
Plastic Materials ◽  
Special Case

A general theory of work-hardening incompressible plastic materials is developed as a special case of Truesdell’s theory of hypo-elasticity. Equations are given in general coordinates for a single loading followed by one unloading, and attention is directed to materials for which the stress-logarithmic strain curve for unloading in simple extension is linear. Using a particular case of the corresponding constitutive equations for loading, which is a generalization of that suggested by Prager, applications are made to a number of specific problems.

The behaviour of supersonic flow past a body of revolution, far from the axis

1950 ◽  
Vol 201 (1064) ◽  
pp. 89-109 ◽  
Keyword(s):  
Supersonic Flow ◽  
General Theory ◽  
Body Of Revolution ◽  
Flow Past ◽  
Physical Importance ◽  
Special Case ◽  
Pointed Body ◽  
Asymptotic Forms

A theory is developed of the supersonic flow past a body of revolution at large distances from the axis, where a linearized approximation is valueless owing to the divergence of the characteristics at infinity. It is used to find the asymptotic forms of the equations of the shocks which are formed from the neighbourhoods of the nose and tail. In the special case of a slender pointed body, the general theory at large distances is used to modify the linearized approximation to give a theory which is uniformly valid at all distances from the axis. The results which are of physical importance are summarized in the conclusion (§ 9) and compared with the results of experimental observations.

Experimental Stock Markets with Controlled Risk Preferences

1992 ◽  
Vol 7 (2) ◽  
pp. 117-134 ◽  
Author(s):  
John R. O'Brien
Keyword(s):  
Risk Sharing ◽  
Competitive Equilibrium ◽  
Risk Preferences ◽  
World Market ◽  
Equilibrium Price ◽  
Double Auction ◽  
Pareto Optimal ◽  
Market Institution ◽  
Certainty Equivalents ◽  
Optimal Risk Sharing

In this paper the empirical validity of the binary lottery preference inducing technique is tested in a real world market institution. In each market the potential gains to exchange arise from induced risk preferences, and the predicted competitive equilibrium is equivalent to the Pareto optimal risk sharing allocation. Price convergence to (and near) the competitive equilibrium price was rapid in each market, and most trades were individually rational with respect to induced certainty equivalents. This evidence implies that preferences can be induced in an oral double auction institution, using this technique.

scholarly journals Congruences induced by transitive representations of inverse semigroups

1987 ◽  
Vol 29 (1) ◽  
pp. 21-40 ◽  
Author(s):  
Mario Petrich ◽  
Stuart Rankin
Keyword(s):  
General Theory ◽  
Inverse Semigroup ◽  
Symmetric Group ◽  
Transitive Group ◽  
Inverse Semigroups ◽  
Group Representations ◽  
Symmetric Inverse Semigroup ◽  
The Right ◽  
Special Case

Transitive group representations have their analogue for inverse semigroups as discovered by Schein [7]. The right cosets in the group case find their counterpart in the right ω-cosets and the symmetric inverse semigroup plays the role of the symmetric group. The general theory developed by Schein admits a special case discovered independently by Ponizovskiǐ [4] and Reilly [5]. For a discussion of this topic, see [1, §7.3] and [2, Chapter IV].

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