Des sociétés comme Fiyta sortent des complications de plus en plus prestigieuses et visent à termes à bousculer les marques suisses de luxe. Leur offensive reste cependant très graduelle. En attendant, elles rachètent patiemment savoir-faire et marques suisses… Analyse.
This paper investigates the effect of changes in ambiguity on the value of statistical life (VSL) under the smooth ambiguity model developed by Klibano, Marinacci and Mukerji (2005). Changes in ambiguity over the mortality risk are expressed through the specific concept of stochastic dominance of order n defined by Ekern (1980). We provide sufficient conditions on the individual attitudes towards ambiguity such that both an ambiguity-averse and an ambiguity-seeking individual modify their VSL in the face of changes in ambiguity. These results have important implications for cost-benefit applications on the risk of human life.
Product-harm crisis are the nightmare of any firm as they have a disastrous effect on their sales and image. This paper proposes a new model to compute the optimal investment in quality and advertising in order to reduce the probability of occurrence of a possible product-harm crisis and mitigate its effects. This method uses stochastic control theory and can be used for both tangible products and services.
This paper investigates how welfare losses for facing risks change as a function of the number of risk exposures. To that aim, we define the risk apportionment of order n (RA-n) utility premium as a measure of pain associated with facing the passage from one risk to a riskier one. Changes in risks are expressed through the specific concept of stochastic dominance of order n defined by Ekern (1980). Three configurations of risk exposures are considered. The paper first shows how the RA-n utility premium is modified when individuals wealth becomes riskier. This makes it possible to generalise earlier results on the topic. Second, the paper provides necessary and sufficient conditions on individual preferences for superadditivity and subadditivity of the RA-n utility premium. Third, the paper investigates welfare changes of merging increases in risks.
