Title: Production, safety, exchange, and risk

Authors: Kjell Hausken

Addresses: Faculty of Sciences, University of Stavanger, 4036 Stavanger, Norway

Abstract: Two agents convert resources into safety investment and production while exchanging goods voluntarily. Safety investment ensures reduction of costly risk. High unit cost of safety effort reduces both productive effort and safety effort, which reduces income.

Keywords: production; safety investment; goods exchange; safety risk; economics; productive investment; trade; price; voluntary exchange.

DOI: 10.1504/IJBCRM.2011.044408

International Journal of Business Continuity and Risk Management, 2011 Vol.2 No.4, pp.346 - 350

Published online: 27 Sep 2014 *

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