Risk Sharing in the Share Economy

Franco Cugno and Mario Ferrero
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Franco Cugno: University of Torino

Chapter 8 in Share Systems and Unemployment, 1991, pp 89-96 from Palgrave Macmillan

Abstract: Abstract So far in this book we have been considering the reaction of the firm in disequilibrium situations caused by unanticipated demand shocks. Following Weitzman (1983), these situations may be characterised as genuine uncertainty to which a probability distribution cannot be attached: they can therefore be dealt with — as we have been doing up to this point — by means of a deterministic model. It is now time to introduce explicit consideration of risk, properly understood as a sequence of random changes in demand which can in principle be anticipated by means of stochastic models.

Keywords: Unemployment Benefit; Demand Shock; Share System; Revenue Sharing; Wage Contract (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11530-3_8

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DOI: 10.1007/978-1-349-11530-3_8

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