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Incorporating risk fairness concerns into wine futures under quality uncertainty
16 references·2 citing·45 second hop
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The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The arbitrage theory of capital asset pricing (1976)
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References

  • 1999A Theory of Fairness, Competition, and Cooperation11,264 cited
  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 2011Incorporating Fairness into Game Theory and Economics4,707 cited
  • 1945Theory of Games and Economic Behavior3,970 cited
  • 2000Risk Aversion and Expected-utility Theory: A Calibration Theorem1,623 cited
  • 2007Fairness and Channel Coordination708 cited
  • 2004The Allocation of Inventory Risk in a Supply Chain: Push, Pull, and Advance-Purchase Discount Contracts619 cited
  • 1991Decision Making Over Time and Under Uncertainty: A Common Approach595 cited
  • 2013Just Luck: An Experimental Study of Risk-Taking and Fairness465 cited
  • 2001Electronic Tickets, Smart Cards, and Online Prepayments: When and How to Advance Sell455 cited
  • 2016Collaborative Consumption: Strategic and Economic Implications of Product Sharing410 cited
  • 2008Price and service competition of supply chains with risk-averse retailers under demand uncertainty343 cited
  • 2004Coordination of Supply Chains with Risk‐Averse Agents303 cited
  • 2013Distributional and Peer‐Induced Fairness in Supply Chain Contract Design272 cited
  • 2008Predicting the Quality and Prices of Bordeaux Wine

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268 cited
  • 1987Experimental comparison of individual behavior under risk and under uncertainty for gains and for losses262 cited
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    • 2023Dynamic pricing vs. pre-announced pricing in supply chain with consumer heterogeneity14 cited
    • 2025A review of analytic models for fairness concerns in supply chain management9 cited