Networks Webinar Series - Pau Milán
The Janeway Institute hosts the Networks Webinar Series which is organised by George Charlson, Sanjeev Goyal, Matt Elliott and Akhil Vohra.
On Friday 4th February 2022, 14.00 - 15.00, the speaker will be Pau Milán (Barcelona School of Economics) and the title of his talk will be "The Limits to Local Insurance"
Read the paper here
Abstract: This paper characterizes which insurance arrangements can be achieved if each individual’s risk can only be shared among a personalized subset of agents. Insurance in the resulting network is constrained (markets are incomplete) unless at least one agent is connected to everyone else. An individual’s ability to share even her own neighbors’ risks is constrained unless there exists an agent whose neighborhood contains hers. Moreover, we characterize which risks an agent can share with others: the joint shocks affecting any group of her neighbors having another common neighbor between them. In a real village network, most individuals lack the connections to diversify the majority of the joint shocks in their neighborhood.
Pau's research interests are in Social and Economic Networks, Information Economics, Development Economics, Applied Game Theory.
See Pau's personal website for more information.
