Weather risk management by companies such as Delphi Weather Analytics. The weather risk market makes it possible to manage the financial impact of weather through risk transfer instruments based on a defined weather element, such as temperature, rain, snow, wind, etc. Weather risk management is a way for organizations to limit their financial exposure to disruptive weather events. By making a payment (a "premium") to a separate company that will assume the financial weather risk for them, an organization essentially is buying a type of insurance - the company assuming the risk will pay the buyer a pre-set amount of money which will
Single crossing condition ordered set. Such situations appear often in information economics, contract theory, social choice and political economics, among other fields. The term Single-Crossing Condition (Spence Mirrlees property) refers to the requirement that the isoutility curve for agents of different types cross only once. This condition guarantees that the transfer in a incentive-compatible direct mechanism can be pinned down by the transfer of the lowest type. This condition is similar to another condition called Strict Increasing Difference (SID). Formally, suppose the agent has a utility function formula_7, the SID says formula_8 we have formula_9. The Spence-Mirrlees Property is characterized by formula_10. Single