报告人：Jingyuan Li(Lingnan University, Hong Kong)
We extend the classical risk vulnerability definition proposed by Gollier and Pratt (1996) and propose a new definition namely risk invulnerability which is to say a desirable background risk that has a positive mean value exceeding the precautionary saving premium makes a decision maker less risk averse with respect to other independent risk. We apply the concept to a corporate under stochastic wealth and threat of liquidation.
Jingyuan Li is a Professor and Head in the Department of Finance and Insurance, Lingnan University, Hong Kong. He obtained his doctoral degree from Texas A&M University (2004). He was the associate editor for Journal of Risk and Insurance. His research focuses on theory of risk management and insurance. He has published articles in Journals: Journal of Economic Theory, Journal of Risk and Insurance, Journal of Mathematical Economics, Insurance: Mathematics and Economics, Economics Letters, Journal of Macroeconomics and Journal of Economics etc.
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