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AveTransRisk SIGNED

Average - Transaction Costs and Risk Management during the First Globalization (Sixteenth-Eighteenth Centuries)

Total Cost €


EC-Contrib. €






 AveTransRisk project word cloud

Explore the words cloud of the AveTransRisk project. It provides you a very rough idea of what is the project "AveTransRisk" about.

plays    loading    form    reassessment    conjuncture    analysed    york    unparalleled    declaring    engagement    redistributing    created    jurisdiction    aboard    differences    self    historical    substantial    modern    expenses    mature    italy    adjudicating    until    damages    object    yar    england    ages    played    mutual    ga    practitioners    trade    revision    unexpected    first    antwerp    quantitatively    jettison    never    economic    risk    accidents    unloading    regulated    claims    active    data    thereby    protection    market    excellent    financial    instrument    creative    cargoes    befall    1800    effectiveness    middle    interdisciplinary    transaction    standardization    did    insurance    fierce    phenomenon    time    1500    globalization    france    ships    parties    underpins    speculative    strictly    provides    pursued    redistribution    debates    rules    investigation    maritime    exists    reports    dialogue    spain    plenty    countries   

Project "AveTransRisk" data sheet

The following table provides information about the project.


Organization address
city: EXETER
postcode: EX4 4QJ

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country United Kingdom [UK]
 Total cost 1˙854˙256 €
 EC max contribution 1˙854˙256 € (100%)
 Programme 1. H2020-EU.1.1. (EXCELLENT SCIENCE - European Research Council (ERC))
 Code Call ERC-2016-COG
 Funding Scheme ERC-COG
 Starting year 2017
 Duration (year-month-day) from 2017-07-01   to  2022-06-30


Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    THE UNIVERSITY OF EXETER UK (EXETER) coordinator 1˙821˙684.00
2    STICHTING VU NL (AMSTERDAM) participant 32˙571.00


 Project objective

This project focuses on the historical analysis of institutions and their impact on economic development through the investigation of a legal instrument – general average (GA) – which underpins maritime trade by redistributing damages’ costs across all interested parties. This will be pursued through the comparative investigation of GA in those European countries where substantial data exists: Italy, Spain, England, France and the Low Countries (1500-1800). Average and insurance were both created in the Middle Ages to facilitate trade through the redistribution of risk. Insurance has been widely studied, average – the expenses which can befall ships and cargoes from the time of their loading aboard until their unloading (due to accidents, jettison, and unexpected costs) – has been neglected. GA still plays an essential role in the redistribution of transaction costs, and being a form of strictly mutual self-protection, never evolved into a speculative financial instrument as insurance did; it therefore represents an excellent case of long-term effectiveness of a non-market economic phenomenon. Although the principle behind GA was very similar across Europe, in practice there were substantial differences in declaring and adjudicating claims. GA reports provide unparalleled evidence on maritime trade which, analysed quantitatively and quantitatively through a novel interdisciplinary approach, will contribute to the reassessment of the role played by the maritime sector in fostering economic growth during the early modern first globalization, when GA was the object of fierce debates on state jurisdiction and standardization of practice. Today they are regulated by the York-Antwerp Rules (YAR), currently under revision. This timely conjuncture provides plenty of opportunities for active engagement with practitioners, thereby fostering a creative dialogue on GA historical study and its future development to better face the challenges of mature globalization.


year authors and title journal last update
List of publications.
2019 G.P. Dreijer, O. Vervaart
‘Een tractaet van avarien – 1617’
published pages: 37-41, ISSN: 1566-7146, DOI:
Pro Memorie 21, 2 (2019) 2020-04-01
2019 Guido Rossi
The barratry of the shipmaster in early modern law: the approach of Italian and English law courts
published pages: 504-574, ISSN: 0040-7585, DOI: 10.1163/15718190-00870a02
Tijdschrift voor Rechtsgeschiedenis 87/4 2020-04-01
2020 Maria Fusaro
The Burden of Risk: Early Modern Maritime Enterprise and Varieties of Capitalism
published pages: 1-22, ISSN: 0007-6805, DOI: 10.1017/s0007680519001557
Business History Review first view (at present) 2020-04-01
2019 Guido Rossi
The barratry of the shipmaster in early modern law: polysemy and mos Italicus
published pages: 65-85, ISSN: 0040-7585, DOI: 10.1163/15718190-08712p03
Tijdschrift voor Rechtsgeschiedenis 87/1-2 2020-04-01
2017 Guido Rossi
\'The liability of the shipmaster in early modern law: comparative (and practice-oriented) remarks\'
published pages: 1-47, ISSN: 2279-7416, DOI:
Historia et Ius 2 issues per year 2019-05-28

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The information about "AVETRANSRISK" are provided by the European Opendata Portal: CORDIS opendata.

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