Market or clan: A comparative study of risk sharing institutional evolution in China and Europe

Wenge Zhu

International Studies of Economics, 2024, vol. 19, issue 2, 293-327

Abstract: In the psychological and sociological framework of risk, we establish a static and dynamic equilibrium model for risk‐sharing institutional evolution. Particularly, through a comparative study of marine insurance development in China and Europe, we address a wide set of research questions concerning why China and Europe relied on different social organizations for risk sharing.

Date: 2024
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https://doi.org/10.1002/ise3.63

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Persistent link: https://EconPapers.repec.org/RePEc:wly:intsec:v:19:y:2024:i:2:p:293-327

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