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.
Int. J. of Business Continuity and Risk Management, 2011 Vol.2, No.4, pp.346 - 350
Available online: 14 Dec 2011