Browsing Department of Economics (ECO) by Author "WU, H-M."

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Browsing Department of Economics (ECO) by Author "WU, H-M."

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    Title: Individual Risk and Mutual Insurance  Author(s): CASS, David; CHICHILNISKY, G.; WU, H-M. Date: 1996 Type of Publication: Article Abstract: This paper examines how, in the presence of individual risk, economic efficiency can be achieved without an unrealistically large number of contingent claims. Market uncertainty is specified in such a way that general types ...