"Learning under ambiguity generates asymmetric responses to news that help connect higher moments in micro and macro data. Survey evidence is increasingly used to provide direct evidence on ambiguity averse behavior, as well as to discipline quantitative models."
"... in the dual theory, reducing probability of risk and supply insurance can be complementary if the surplus is increasing in risk reduction."
"Estimations of model parameters are presented under Bayesian framework using a combination of Gibbs sampler and Metropolis-Hastings algorithm. Predictions and applications of the proposed model in enterprise risk management and cyber insurance rate filing are discussed."
"We show how to use Schelling’s focal points together with Kahneman & Tversky’s reference points and related concepts from behavioural economics to complement technical innovations and improve threat detection and deterrence."
"... this book chapter evaluates how policymakers' approaches to systemic risk regulation in insurance have evolved since the crisis. It tracks how international standard-setting organizations and U.S. regulators initially relied on the entity-based approach, using discretionary methodologies for identifying specific nonbank firms, including insurers, that were systemically significant. It then shows how, in response to backlash, international and U.S. policymakers abruptly ceased entity-based designations and purported to shift their focus to an activities-based approach to nonbank systemic risk."
"... we map out key strategic and normative dilemmas that regulators must navigate in regulating the development and application of AI."
"Cyber attacks can impair banks operations and precipitate bank runs. When digital infrastructure is shared, banks defend themselves by investing in cybersecurity but can free-ride on the security measures of others. Ex ante free-riding by banks interacts with the ex post coordination frictions underpinning bank runs."
"This study is the first to comprehensively investigate the five lines of accountability as opposed to single lines in the theoretical context of institutional theory. It provides several implications for practice."
"The analysis discusses the overall negotiations process underpinning Brexit and examines the key resulting regimes, including the Trade and Cooperation Agreement (TCA) and the EU-UK data adequacy agreements granted under the GDPR and the LED."
"We ... present a simple sufficient condition for monotone comparative statics of changes in risk under risk aversion."