Details about Christian Gollier

E-mail:
Homepage:	http://www.idei.asso.fr/English/ECv/CvChercheurs/EcvGollier.html
Workplace:	Institut d'Économie Industrielle (IDEI) (Institute of Industrial Economics), Toulouse School of Economics (TSE), (more information at EDIRC) Laboratoire d'Économie des Ressources Naturelles (LERNA) (Laboratory of Natural Resource Economics), Toulouse School of Economics (TSE), (more information at EDIRC)

Access statistics for papers by Christian Gollier.

Last updated 2009-11-02. Update your information in the RePEc Author Service.

Short-id: pgo91

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Working Papers

2009

1. Assets Returns Volatility and Investment Horizon: The French Case
   CESifo Working Paper Series, CESifo Group Munich
   Also in THEMA Working Papers, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise (2008)
   IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2008) View citations
2. Does Ambiguity Aversion Reinforce Risk Aversion? Applications to Portfolio Choices and Asset Pricing
   IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations
3. Ecological Discounting
   IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations
   Also in Working Papers, LERNA, University of Toulouse (2008) View citations
4. Expected Net Present Value, Expected Net Future Value, and the Ramsey Rule
   CESifo Working Paper Series, CESifo Group Munich View citations
   Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2009) View citations
   Working Papers, LERNA, University of Toulouse (2008)
5. Should We Discount the Far-Distant Future at Its Lowest Possible Rate?
   Economics Discussion Papers, Kiel Institute for the World Economy View citations
   Also in Working Papers, LERNA, University of Toulouse (2008) View citations
   See also Journal Article in Economics - The Open-Access, Open-Assessment E-Journal (2009)
6. Term Structure and Cyclicity of Value-at-Risk: Consequences for the Solvency Capital Requirement
   CESifo Working Paper Series, CESifo Group Munich

2008

7. Declining Discount Rates: Economic Justifications and Implications for Long-Run Policy
   Working Papers, LERNA, University of Toulouse View citations
   Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2008) View citations
   See also Journal Article in Economic Policy (2008)
8. Discounting with Fat-Tailed Economic Growth
   IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations
   Also in Working Papers, LERNA, University of Toulouse (2008) View citations
   See also Journal Article in Journal of Risk and Uncertainty (2008)
9. Resource Allocation When Projects Have Ranges of Increasing Returns
   Working Paper Series, Harvard University, John F. Kennedy School of Government
   Also in Working Papers, LERNA, University of Toulouse (2007)
   See also Journal Article in Journal of Risk and Uncertainty (2008)
10. Socially Efficient Discounting under Ambiguity Aversion
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse

2007

11. Assets Relative Risk for Long-term Investors
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse
12. Intergenerational Risk-Sharing and Risk-Taking of a Pension Fund
    CESifo Working Paper Series, CESifo Group Munich
    Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2007)
    See also Journal Article in Journal of Public Economics (2008)
13. Optimal Beliefs, Asset Prices and the Preference for Skewed Returns
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations
    Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2007) View citations
    NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations
    See also Journal Article in American Economic Review (2007)
14. Optimal expectations with complete markets
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse
15. The Determinants of the Insurance Demand by Firms
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse
16. Understanding Saving and Portfolio Choices with Predictable Changes in Assets Returns
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse
    Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2005)
    See also Journal Article in Journal of Mathematical Economics (2008)

2006

17. An Evaluation of Stern's Report on the Economics of Climate Change
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations
18. Optimal Choice and Beliefs with Ex Ante Savoring and Ex Post Disappointment
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations
    Also in CFS Working Paper Series, Center for Financial Studies (2006) View citations
19. Optimal choice and beliefs with ex ante savoring ex post disappointment
    Working Papers, LERNA, University of Toulouse

2005

20. Does Flexibility Enhance Risk Tolerance?
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations
21. Optimal Illusions and Decisions under Risk
    CESifo Working Paper Series, CESifo Group Munich View citations
    Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2005) View citations
22. Optimal Portfolio Management for Individual Pension Plans
    CESifo Working Paper Series, CESifo Group Munich View citations
    Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2005) View citations
23. STUDY ON COMPETITION POLICY IN THE PORTUGUESE INSURANCE SECTOR: ECONOMETRIC MEASUREMENT OF UNILATERAL EFFECTS IN THE CAIXA/BCP MERGER CASE
    Working Papers, Portuguese Competition Authority
24. Some Aspects of the Economics of Catastrophe Risk Insurance
    CESifo Working Paper Series, CESifo Group Munich View citations
25. The Consumption-Based Determinants of the Term Structure of Discount Rates
    CESifo Working Paper Series, CESifo Group Munich View citations
    Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2004) View citations

2004

26. Choice of Nuclear Power Investments ander Price Uncertainty: Valuing Modularity
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse
    Also in IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2004)
    See also Journal Article in Energy Economics (2005)
27. Optimal Positive Thinking and Decisions under Risk
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations

2003

28. Collective Investment Decision Making with Heterogeneous Time Preferences
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in CESifo Working Paper Series, CESifo Group Munich (2003) View citations
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse (2003) View citations
29. Collective Risk-Taking Decisions with Heterogeneous Beliefs
    CESifo Working Paper Series, CESifo Group Munich View citations
30. Information and the Equity Premium
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse
    Also in Working Papers, Department of Economics, W. P. Carey School of Business, Arizona State University
31. Maximizing the Expected Net Future Value as an Alternative Strategy to Gamma Discounting
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse
    See also Journal Article in Finance Research Letters (2004)
32. Optimal Dynamic Portfolio Risk with First-Order and Second-Order Predictability
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations
33. Transitory Shocks to GNP and the Consumption-Based Term Structure of Interest Rates
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse
34. Who Should we Believe? Collective Risk-Taking Decisions with Heterogeneous Beliefs
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations

2002

35. Optimal Prevention of Unknown Risks: A Dynamic Approach with Learning
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations

2001

36. Are Independent Optimal Risks Substitutes?
    IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse View citations
37. Changes in Risk and Asset Prices
    CESifo Working Paper Series, CESifo Group Munich
    See also Journal Article in Journal of Monetary Economics (2002)
38. How Diagnostic Tests Affect Prevention: a Cost-Benefit Analysis
    CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy View citations

1998

39. Discounting an Uncertain Future
    CESifo Working Paper Series, CESifo Group Munich View citations
    See also Journal Article in Journal of Public Economics (2002)
40. Which Shape for the Cost Curve of Risk?
    Working Papers, Toulouse - GREMAQ View citations

1997

41. Changing in Risk and Risk Taking: A Survey
    Working Papers, Toulouse - GREMAQ View citations
42. Horizon Length and Portfolio Risk
    NBER Technical Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Risk and Uncertainty (2002)
43. Learning and Irreversibility: An Econmic Interpretation of the "Precautionnary Principle"
    Working Papers, Toulouse - GREMAQ View citations
44. Optimal Insurance Design: What Can We Do Without Expected Utility?
    Working Papers, Toulouse - GREMAQ View citations
45. Wealth Inequality and Asset Pricing
    Working Papers, Toulouse - GREMAQ View citations
    See also Journal Article in Review of Economic Studies (2001)

1996

46. A Model Of Comparative Statics For Changes in Stochastic Returns With Dependent Risky Assets
    Working Papers, Toulouse - GREMAQ View citations
    Also in Working Papers, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. (1996) View citations
    THEMA Working Papers, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise (1996) View citations
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (1995)
    See also Journal Article in Journal of Risk and Uncertainty (1996)
47. Investment Flexibility and the Acceptance of Risk
    Working Papers, Toulouse - GREMAQ View citations
    See also Journal Article in Journal of Economic Theory (1997)
48. New Methods in the Classical Economics of Uncertainty: Comparing Risks
    Working Papers, Toulouse - GREMAQ View citations
49. Peer Grouping in An Adverse Selection Model
    Discussion Papers, University College London, Department of Economics View citations
50. Risk-Taking Behavior with Limited Liability and Risk Aversion
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
51. The Effect of an Early Resolution of Uncertainty on Savings
    Working Papers, Toulouse - GREMAQ
52. The Insurance of Low Probability Events
    Working Papers, Toulouse - GREMAQ View citations
53. The No Loss Offset Provision and the Attitude Towards Risk of a Risk-Neutral Firm
    Working Papers, Toulouse - GREMAQ
    See also Journal Article in Journal of Public Economics (1997)
54. Time Horizon Length and Risk Aversion
    Working Papers, Toulouse - GREMAQ

1994

55. Adverse selection in an insurance pool
    Working Papers, Risk and Insurance Archive
56. Changes in Background Risk and Risk Taking Behavior
    Working Papers, Risk and Insurance Archive View citations
    See also Journal Article in Econometrica (1996)
57. Demand for Risky Assets and Stochastic Dominance: A Note
    Working Papers, Risk and Insurance Archive
58. Dynamic Risk Taking With Indivisible Risks
    Working Papers, Risk and Insurance Archive
59. Recursive Utility, Precautionary Saving and the Demand for Insurance
    Working Papers, Risk and Insurance Archive
60. Risk Aversion, Prudence and Temperance: A Unified Approach
    Working Papers, Risk and Insurance Archive
    See also Journal Article in Economics Letters (1995)
61. Second-Best Risk Sharing With Incomplete Contracts
    Working Papers, Risk and Insurance Archive

1993

62. Monopolistic Insurance Markets Under the Coinsurance Clause
    Working Papers, Risk and Insurance Archive
63. Portfolio Dominance, Lower Conditional Expectation And The Monotone Likelihood Ratio Order
    Working Papers, Risk and Insurance Archive
64. Risk-Taking Behaviour With Expected Utility and Limited Liability: Applications to the Regulation of Financial Intermediaries
    Working Papers, Risk and Insurance Archive
65. Weak Proper Risk Aversion And The Tempering Effect of Background Risk
    Working Papers, Risk and Insurance Archive View citations

1992

66. Second-best insurance contract design in an incomplete market
    CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)
    See also Journal Article in Scandinavian Journal of Economics (1995)
67. Simple Increases in Risk and Their Comparative Statics for Portfolio Management
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (1992) View citations

1991

68. A note on portfolio selection by insurance companies and optimal participating insurance policies
    CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)
69. Comparative Statics Under Multiple Sources of Risk with Appllications to Insurance Demand
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (1991)
    See also Journal Article in The Geneva Risk and Insurance Review (1992)

1990

70. Risk-sharing on the labour market and second-best wage rigidities
    CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)
    See also Journal Article in European Economic Review (1993)

1987

71. Intergenerational discrimination in insider-outsider models with implicit labour contracts
    CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) View citations
72. The role of wage setting in entry-deterrence
    CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

1985

73. Pareto-optimal risk sharing with fixed costs per claim
    CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) View citations
74. The design of optimal insurance contracts without the nonnegativity constraint on claims
    CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Undated

75. Increased Risk-Bearing with Background Risk
    Working Papers, Department of Economics, W. P. Carey School of Business, Arizona State University View citations

Journal Articles

2009

1. Should we Discount the Far-Distant Future at its Lowest Possible Rate?
   Economics - The Open-Access, Open-Assessment E-Journal, 2009, 3, (25), 1-14 View citations
   See also Working Paper (2009)

2008

2. Declining discount rates: Economic justifications and implications for long-run policy
   Economic Policy, 2008, 23, 757-795 View citations
   See also Working Paper (2008)
3. Discounting with fat-tailed economic growth
   Journal of Risk and Uncertainty, 2008, 37, (2), 171-186 View citations
   See also Working Paper (2008)
4. Intergenerational risk-sharing and risk-taking of a pension fund
   Journal of Public Economics, 2008, 92, (5-6), 1463-1485 View citations
   See also Working Paper (2007)
5. Resource allocation when projects have ranges of increasing returns
   Journal of Risk and Uncertainty, 2008, 37, (1), 1-33
   Also in Journal of Risk and Uncertainty, 2008, 37, (1), 93-93 (2008)
   See also Working Paper (2008)
6. Understanding saving and portfolio choices with predictable changes in assets returns
   Journal of Mathematical Economics, 2008, 44, (5-6), 445-458
   See also Working Paper (2007)

2007

7. Optimal Beliefs, Asset Prices, and the Preference for Skewed Returns
   American Economic Review, 2007, 97, (2), 159-165 View citations
   See also Working Paper (2007)
8. Whom should we believe? Aggregation of heterogeneous beliefs
   Journal of Risk and Uncertainty, 2007, 35, (2), 107-127

2005

9. Aggregation of Heterogeneous Time Preferences
   Journal of Political Economy, 2005, 113, (4), 878-896 View citations
10. Choice of nuclear power investments under price uncertainty: Valuing modularity
    Energy Economics, 2005, 27, (4), 667-685 View citations
    See also Working Paper (2004)
11. Optimal consumption and the timing of the resolution of uncertainty
    European Economic Review, 2005, 49, (3), 761-773 View citations
12. The impact of prudence on optimal prevention
    Economic Theory, 2005, 26, (4), 989-994 View citations

2004

13. Introduction: Risk and Uncertainty in Environmental and Resource Economics
    Journal of Risk and Uncertainty, 2004, 29, (1), 5-6
14. MISERY LOVES COMPANY: EQUILIBRIUM PORTFOLIOS WITH HETEROGENEOUS CONSUMPTION EXTERNALITIES
    International Economic Review, 2004, 45, (4), 1169-1192 View citations
15. Maximizing the expected net future value as an alternative strategy to gamma discounting
    Finance Research Letters, 2004, 1, (2), 85-89 View citations
    See also Working Paper (2003)

2003

16. Decision-Making under Scientific Uncertainty: The Economics of the Precautionary Principle
    Journal of Risk and Uncertainty, 2003, 27, (1), 77-103 View citations
17. Preserving preference rankings under background risk
    Economics Letters, 2003, 80, (3), 337-341 View citations
18. To Insure or Not to Insure?: An Insurance Puzzle
    The Geneva Risk and Insurance Review, 2003, 28, (1), 5-24

2002

19. Changes in risk and asset prices
    Journal of Monetary Economics, 2002, 49, (4), 747-760 View citations
    See also Working Paper (2001)
20. Discounting an uncertain future
    Journal of Public Economics, 2002, 85, (2), 149-166 View citations
    See also Working Paper (1998)
21. Horizon Length and Portfolio Risk
    Journal of Risk and Uncertainty, 2002, 24, (3), 195-212 View citations
    See also Working Paper (1997)
22. Time Horizon and the Discount Rate
    Journal of Economic Theory, 2002, 107, (2), 463-473 View citations
23. Time diversification, liquidity constraints, and decreasing aversion to risk on wealth
    Journal of Monetary Economics, 2002, 49, (7), 1439-1459 View citations

2001

24. Multiple risks and the value of information
    Economics Letters, 2001, 73, (3), 359-365
25. Should we beware of the Precautionary Principle?
    Economic Policy, 2001, 16, (33), 301-328 View citations
26. Wealth Inequality and Asset Pricing
    Review of Economic Studies, 2001, 68, (1), 181-203 View citations
    See also Working Paper (1997)

2000

27. Peer Group Formation in an Adverse Selection Model
    Economic Journal, 2000, 110, (465), 632-43 View citations
28. Scientific progress and irreversibility: an economic interpretation of the 'Precautionary Principle'
    Journal of Public Economics, 2000, 75, (2), 229-253 View citations

1998

29. Editor's Note
    The Geneva Risk and Insurance Review, 1998, 23, (1), 5-5

1997

30. A Note on Portfolio Dominance
    Review of Economic Studies, 1997, 64, (1), 147-50 View citations
31. Investment Flexibility and the Acceptance of Risk
    Journal of Economic Theory, 1997, 76, (2), 219-241 View citations
    See also Working Paper (1996)
32. On the Inefficiency of Bang-Bang and Stop-Loss Portfolio Strategies
    Journal of Risk and Uncertainty, 1997, 14, (2), 143-54
33. The no-loss offset provision and the attitude towards risk of a risk-neutral firm
    Journal of Public Economics, 1997, 65, (2), 207-217 View citations
    See also Working Paper (1996)
34. Trade Credit and Credit Rationing
    Review of Financial Studies, 1997, 10, (4), 903-37 View citations
35. Willingness to pay, the risk premium and risk aversion
    Economics Letters, 1997, 55, (3), 355-360 View citations

1996

36. A Model of Comparative Statics for Changes in Stochastic Returns with Dependent Risky Assets
    Journal of Risk and Uncertainty, 1996, 13, (2), 147-62 View citations
    See also Working Paper (1996)
37. Arrow's Theorem on the Optimality of Deductibles: A Stochastic Dominance Approach
    Economic Theory, 1996, 7, (2), 359-63 View citations
    Also in Economic Theory, 1996, 7, (2), 359-363 (1996) View citations
38. Changes in Background Risk and Risk-Taking Behavior
    Econometrica, 1996, 64, (3), 683-89 View citations
    See also Working Paper (1994)
39. Decreasing absolute prudence: Characterization and applications to second-best risk sharing
    European Economic Review, 1996, 40, (9), 1799-1815
40. Deductible insurance and production: A comment
    Insurance: Mathematics and Economics, 1996, 19, (1), 55-59
41. Portfolio choice under noisy asset returns
    Economics Letters, 1996, 53, (1), 47-51 View citations
42. Risk Vulnerability and the Tempering Effect of Background Risk
    Econometrica, 1996, 64, (5), 1109-23 View citations

1995

43. Demand for Risky Assets and the Monotone Probability Ratio Order
    Journal of Risk and Uncertainty, 1995, 11, (2), 113-22 View citations
44. Insurance and Catastrophes: Comment
    The Geneva Risk and Insurance Review, 1995, 20, (2), 189-190
45. Introductory Note
    The Geneva Risk and Insurance Review, 1995, 20, (1), 7-8
46. Risk-aversion, prudence and temperance: A unified approach
    Economics Letters, 1995, 48, (3-4), 331-336 View citations
    See also Working Paper (1994)
47. Second-Best Insurance Contract Design in an Incomplete Market
    Scandinavian Journal of Economics, 1995, 97, (1), 123-35 View citations
    See also Working Paper (1992)
48. The Comparative Statics of Changes in Risk Revisited
    Journal of Economic Theory, 1995, 66, (2), 522-535 View citations

1994

49. The Spillover Effect of Compulsory Insurance
    The Geneva Risk and Insurance Review, 1994, 19, (1), 23-34

1993

50. Increases in Risk and Linear Payoffs
    International Economic Review, 1993, 34, (2), 309-19 View citations
51. Relatively weak increases in risk and their comparative statics
    Economics Letters, 1993, 41, (3), 269-272 View citations
52. Risk sharing on the labour market and second-best wage rigidities
    European Economic Review, 1993, 37, (8), 1457-1482 View citations
    See also Working Paper (1990)
53. The Economics of Adding and Subdividing Independent Risks: Some Comparative Statics Results
    Journal of Risk and Uncertainty, 1993, 7, (3), 325-37 View citations

1992

54. Comparative Statics Under Multiple Sources of Risk with Applications to Insurance Demand
    The Geneva Risk and Insurance Review, 1992, 17, (1), 21-33 View citations
    See also Working Paper (1991)
55. Portfolio selection by mutual insurance companies and optimal participating insurance policies
    Insurance: Mathematics and Economics, 1992, 11, (3), 237-245

1991

56. Increases in risk and deductible insurance
    Journal of Economic Theory, 1991, 55, (2), 435-440 View citations
57. Unemployment Insurance: Risk Sharing Versus Efficiency
    The Geneva Risk and Insurance Review, 1991, 16, (1), 59-74
58. Wage Differentials, the Insider-Outsider Dilemma, and Entry-Deterrence
    Oxford Economic Papers, 1991, 43, (3), 391-408 View citations

Books

2004

1. The Economics of Risk and Time, vol 1
   MIT Press Books, The MIT Press View citations