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Heterogeneity and the formation of risk - sharing coalitions

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dc.creatorJaramillo Mejía, Fernando
dc.creatorKempf, Hubert
dc.creatorMoizeau, Fabien
dc.date.accessioned2015-10-16T13:15:28Z
dc.date.available2015-10-16T13:15:28Z
dc.date.created2013
dc.date.issued2013
dc.description.abstractWe offer a new explanation of partial risk sharing based on coalition formation and segmentation of society in a risky environment, without assuming limited commitment and imperfect information. Heterogenous individuals in a society freely choose with whom they will share risk. A partition belonging to the core of the membership game obtains. Perfect risk sharing does not necessarily arise. Focusing on mutual insurance rule and assuming that individuals only differ with respect to risk, we show that the core partition is homophily-based. The distribution of risk affects the number and size of these coalitions. Individuals may pay a lower risk premium in riskier societies. A higher heterogeneity in risk leads to a lower degree of risk sharing. We discuss how the endogenous partition of society into risk-sharing coalitions may shed light on empirical evidence on partial risk sharing. The case of heterogenous risk aversion leads to similar results.eng
dc.format.extent44 páginasspa
dc.format.mediumRecurso electrónicospa
dc.format.mimetypeapplication/pdf
dc.format.tipoDocumentospa
dc.identifier.doihttps://doi.org/10.48713/10336_11289
dc.identifier.editorialUniversidad del Rosariospa
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/11289
dc.language.isospa
dc.publisherUniversidad del Rosariospa
dc.publisher.departmentFacultad de Economíaspa
dc.relation.citationIssueNo. 143
dc.relation.citationTitleSerie Documentos de trabajo. Economía
dc.relation.ispartofSerie Documentos de Trabajo. No. 143 (Septiembre 2013)spa
dc.relation.urihttps://ideas.repec.org/p/col/000092/011013.html
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto completo)spa
dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombiaspa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.reponamereponame:Repositorio Institucional EdocURspa
dc.subject.ddcProcesos sociales
dc.subject.keywordRisk Sharingeng
dc.subject.keywordGroup Membershipeng
dc.subject.keywordSocial Segmentationeng
dc.subject.lembSociologíaspa
dc.subject.lembGrupos socialesspa
dc.subject.lembMarginados socialesspa
dc.subject.lembRelaciones socialesspa
dc.subject.lembRiesgo (Economía)::Aspectos Socialesspa
dc.titleHeterogeneity and the formation of risk - sharing coalitionsspa
dc.typeworkingPapereng
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
dc.type.spaDocumento de trabajospa
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