Living standards are not fully insurable because of moral-hazard problems: if people or organizations knew that their incomes were guaranteed regardless of the amount of effort that they put in, then there would be a markedly reduced incentive to make efforts to maintain income.
An edition of Macro markets
(1993)
Macro markets
creating institutions for managing society's largest economic risks
by Robert J. Shiller
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Markets, Risk, Stock exchanges, MacroeconomicsShowing 2 featured editions. View all 2 editions?
| Edition | Availability |
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1
Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks (Clarendon Lectures in Economics)
May 29, 1998, Oxford University Press, USA
in English
0198294182 9780198294184
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2
Macro markets: creating institutions for managing society's largest economic risks
1993, Clarendon Press, Oxford University Press
in English
0198287828 9780198287827
|
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Book Details
Edition Notes
Includes bibliographical references (p. 228-240) and indexes.
"Clarendon lectures in economics"--Jacket.
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| August 4, 2020 | Edited by ImportBot | import existing book |
| April 28, 2010 | Edited by Open Library Bot | Linked existing covers to the work. |
| February 17, 2010 | Edited by WorkBot | add more information to works |
| December 10, 2009 | Created by WorkBot | add works page |