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A market for weather risk ? Worlds in conflict and compromising

Rainelli, Hélène; Huault, Isabelle (2008-07), A market for weather risk ? Worlds in conflict and compromising, AFFI (Association Française de Finance), 2008-12, Paris, France

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Type
Communication / Conférence
Date
2008-07
Conference title
AFFI (Association Française de Finance)
Conference date
2008-12
Conference city
Paris
Conference country
France
Pages
34
Metadata
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Author(s)
Rainelli, Hélène
Huault, Isabelle
Abstract (EN)
In this paper we study the development of the market for weather derivatives in Europe. We show that weather derivatives conceived as financial products by their promoters have difficulties finding end-users. We describe the attempts of market promoters using a framework drawn from economic sociology, namely the theory provided by Boltanski and Thevenot's Economy of Worth. We derive some conclusions about the potential future of the market.
Subjects / Keywords
Social studies of finance; Weather risk; OTC market
JEL
G12 - Asset Pricing; Trading Volume; Bond Interest Rates
G13 - Contingent Pricing; Futures Pricing
Q54 - Climate; Natural Disasters and Their Management; Global Warming
N24 - Europe: 1913–