Self-Protection, Information and the Precautionary Principle

In this paper we examine the effect of information on investment in self-protection. We show that the relationship between more information and investment in self-protection is ambiguous in general. If absolute risk aversion is constant, then investment in self-protection always decreases with a better information structure. We show that if we interpret the Precautionary Principle as requiring more self-protection today, it is difficult to accept it on the grounds of efficiency, except for a particular subset of information structures.     

创制“诚信·维权”的“3+1”模式

诚信正成为我国社会主义市场经济背景下最具焦点性的话语之一,成为我们社会当下最为稀缺性的道德资源。今年3·15的主题是"诚信·维权"。可是,年年有维权年年有侵权,维权行动收效甚微。只有政府、企业、消费者和传媒各司其职,增强消费者的"自我维权"意识、商业者的"换位思维"     

Self-protection against crime: what do schools do?

Most economic research about self-protection against crime concentrates on self-protection by individuals, households, and stores – private economic agents. We know much less about self-protection in public economic settings, such as by schools; this article takes a step towards learning more. An economic agent who self-protects benefits by reducing vulnerability to crime but incurs self-protection costs whether a victimization occurs or not; should a crime occur, the agent further bears the cost of the victimization itself. The agent, a school administrator in this application, must determine the optimal level of self-protection within this environment. Empirical results obtained using data from the 2004 and 2006 School Survey on Crime and Safety (SSOCS) show that schools self-protect (use professional security personnel) much in line with theoretical predictions. Among other findings, schools located in larger cities and that have a larger and older student body self-protect more prevalently than other schools, while schools with more academically able students self-protect less than schools with less productive student inputs.     

债权人自我保护、能力差异与法治环境——基于证监会处罚公告的经验证据

以2005～2008年被中国证监会处罚的上市公司为样本,考察了不同类型债权人自我保护能力的差异以及法治环境对债权人自我保护能力的影响。研究发现,舞弊公司次年资产负债率、流动负债、银行借款、短期借款较未舞弊公司有大幅下降;舞弊与未舞弊公司次年非流动负债、商业信用、长期借款的变化无显著差异;法治环境较差地区的舞弊公司次年资产负债率、银行借款及短期借款的降幅更为明显。该结果表明,总体上债权人具备自我保护能力,但不同类型债权人的自我保护能力存在显著差异,债权人自我保护与法律保护互为替代。     

社会医疗保险、自我保护与商业健康保险

基于消费者保险需求理论,采用中国家庭金融调查（CHFS）数据,分析了社会医疗保险、自我保护与商业健康保险之间的关系。结果表明：社会医疗保险抑制了商业健康保险的发展,显著减少了自我保护支出;自我保护促进了商业健康保险的发展。鉴于此,政府应制定合理的封顶线及报销比例以提供适度的基本医疗保险保障水平,商业保险公司应提供差异化的健康保险以补充社会医疗保险,政府及保险公司应鼓励自我保护投资以促进商业健康保险发展。     

创业投资中投资者自我保护机制

由于创业投资的高风险性 ,特别是因委托代理问题而导致的逆向选择风险和道德风险 ,尤其需要投资者加强自我保护 ,建立有效的投资者自我保护机制。以美国等发达市场经济国家的经验为基础 ,分析了创业投资中的投资者自我保护机制的内容。创业投资中的投资者自我保护机制主要包括 :对投资组织人及投资组织形式的选择 ;多阶段决策程序 ;专业投资、组合投资、联合投资与分期投资 ;复合投资工具的使用 ;对创业企业管理的监督与干预 ;灵活的退出机制等内容。     

A note on changes in additive risky benefits and risky costs

We introduce a distinction between additive risky benefits and additive risky costs, showing that it is relevant in determining decision maker choices in the presence of changes in risk. Results obtained show the specific role of the order of risk change when facing the two types of risk. Similarities and differences with the case of multiplicative risks are discussed. Moreover, the analysis is performed in two models studying respectively saving and self-protection and provides new applied results for both, some with reference to background risks.