Optimal Insurance Against Climatic Experience
推导了面对不可保且相关的总体生产风险时，气候风险的最优保险合同，并分析了理性投保决策，对研究保险设计与风险管理的学者有参考价值。
Abstract An optimal insurance contract against a climatic risk is derived in the presence of an uninsurable and dependent aggregate production risk. The optimaldesign depends on the stochastic dependency between both sources of uncertainty and on the producer's attitude towards risk, especially on his prudent behavior. Rationalweather insurance purchasing decisions are also derived. The prudent producer responds to actuarially fair weather insurance by increasing his exposure towards risk.