Mario J Miranda

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EPTD Discussion Papers contain preliminary material and research results, and are circulated prior to a full peer review in order to stimulate discussion and critical comment. It is expected that most Discussion Papers will eventually be published in some other form, and that their content may also be revised. ABSTRACT Natural disasters can be extremely(More)
[1] Index insurance has recently been advocated as a useful risk transfer tool for disaster management situations where rapid fiscal relief is desirable and where estimating insured losses may be difficult, time consuming, or subject to manipulation and falsification. For climate-related hazards, a rainfall or temperature index may be proposed. However,(More)
We show how to solve the stochastic spatial-temporal price equilibrium model numerically using the Chebychev collocation method. We then use the model to analyze the joint and interactive stabilizing effects of competitive storage and trade. Although the competitive spatial-temporal price merical dynamic programming strategies (Wil-equilibrium model has(More)
Poor households try to save and to borrow to smooth consumption in the face of low and uncertain streams of income. They are constrained by credit limits and by the spread between the price paid for loans (borrowing) and the price earned for deposits (saving). Models of household choices that include all these facts are intractable. I use orthogonal(More)
Preserving biodiversity has become vital in a time of rapid environmental changes since biodiversity loss compromises ecosystem functioning and subsequently services on which human welfare depends. Biodiversity encompasses taxonomic, process and structure heterogeneity and its evaluation requires an integrative approach. Additionally, different taxa have(More)
Established in 1984, the Wharton Risk Management and Decision Processes Center develops and promotes effective corporate and public policies for low‐probability events with potentially catastrophic consequences through the integration of risk assessment, and risk perception with risk management strategies. Natural disasters, technological hazards, and(More)
This paper discusses how numerical techniques may be used to solve the simultaneous functional equations that arise in dynamic stochastic games. Unlike the conventional linear-quadratic approach, our methods may be used to address general model specifications including non-quadratic objective functions, non-linear equations of motion , and constraints on(More)