A Market for Weather Risk? Worlds in Conflicts and Compromising

34 Pages Posted: 14 Oct 2008 Last revised: 16 Jun 2015

See all articles by Isabelle Huault

Isabelle Huault

Université Paris Dauphine

Hélène Rainelli

Université Paris I Panthéon-Sorbonne - Institut d'Administration des Entreprises de Paris (IAE Paris)

Date Written: February 4, 2009

Abstract

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.

Keywords: weather derivatives, financial markets, social construction of risk, Economics of convention

Suggested Citation

Huault, Isabelle and Rainelli, Hélène, A Market for Weather Risk? Worlds in Conflicts and Compromising (February 4, 2009). Available at SSRN: https://ssrn.com/abstract=1282089 or http://dx.doi.org/10.2139/ssrn.1282089

Isabelle Huault

Université Paris Dauphine ( email )

223 Rue Saint-Honore
Paris, 75775
France

Hélène Rainelli (Contact Author)

Université Paris I Panthéon-Sorbonne - Institut d'Administration des Entreprises de Paris (IAE Paris) ( email )

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