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Erschienen in:
2017 | OriginalPaper | Buchkapitel
8. The Different Costs of Risk
verfasst von : Jesper Lyng Jensen, Susanne Sublett
Erschienen in: Redefining Risk & Return
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Abstract
It is important to understand that with the existence of structural risk, risk no longer costs the same for all risk owners. Again, this is a point where the properties of the structural risk cost strongly challenge the leading academic view of risk because the conclusion stating that risk does not cost the same for everybody means that risk owners with low reserve capital and a low level of insurance have higher risk costs. Risk owners with low reserve capital and a low level of insurance are simply not competitive when it comes to assuming risk.