Int. J. of Business Continuity and Risk Management   »   2011 Vol.2, No.4

 

 

Title: Production, safety, exchange, and risk

 

Author: Kjell Hausken

 

Address: 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

 

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

 

Available online: 14 Dec 2011

 

 

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