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vice versa. There is now the possibility of a wager between
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vice versa. There is now the possibility of a wager between
shifted to the insurance company. But something can be done to reduce the burden of risk and uncertainty if there are some persons to whom wet weather brings gain (say, the cinema industry) and others to whom it brings loss (say, the hotel industry). As we shall see shortly, a 'betting' market can be set up in which the risk of gain to the hotel keepers will owe the cinema operators money on the bet, and this will transfer some of the fine-weather profits of the hotel keepers to make up for the fine-weather losses of the cinema
Edition 1st Edition
First Published 1968
Imprint Routledge
Pages 3
eBook ISBN 9780203106594