Catastrophe insurance differs from regular insurance in that individual claims are correlated and insurers have to pay more clients at once, which creates a liquidity strain. In this paper, I show two related findings: first, that when customers know their claims are correlated, this correlation can cause positive-sloping demand at low prices, and second, that because of this, a catastrophe insurance market can fail. Market failure is a stable equilibrium, which provides a better understanding of the frequent failures in catastrophe (...) insurance markets. (shrink)

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in (...) the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant. (shrink)

The emergence of the Internet and various forms of virtual communities has led to the impact of a new social space on individuals who frequently replace the real world with alternative forms of socializing. In virtual communities, new ‘friendships’ are easily accepted;however,how this acceptance influences cultural identity has not been investigated. Based on the data collected from 443 respondents in the Republic of Serbia, authors analyzethisconnexion,as well as how the absorption of others’ cultural values is reflected on the local cultural (...) values. The results show that the adoption of others’ cultural values diminished the bond with the local community. The present paper adds to the theory of virtual communities by examining the relationship between the acceptance of an unknown person in a virtual community and its effects on cultural identity. This study contributes to the clarificationof the impact that virtual networking has on cultural identity. (shrink)

Radoslav Baltezarevic, Borivoje Baltezarevic, Piotr Kwiatek and Vesna Baltezarevic ABSTRACT: The emergence of the Internet and various forms of virtual communities has led to the impact of a new social space on individuals who frequently replace the real world with alternative forms of socializing. In virtual communities, new ‘friendships’ are easily accepted; however, how this...

This chapter develops a perceptual solution to the epistemological problem of other minds, relying on central ideas from Maurice Merleau-Ponty's phenomenology. The Merleau-Pontian account is contrasted with another attempted perceptual solution to the other minds problem, and it is argued that only the former meets the phenomenologists' desideratum of providing an alternative to inferential solutions. The chapter also provides responses to various objections to the perceptual solution, including a pair of objections recently put forward by Alec Hyslop.