On the basis of a real high stakes insurance experiment with small probabilities of losses, we demonstrate that concern … is a more important driver of WTP for insurance than subjective probability estimates when there is ambiguity surrounding … probability insurance "puzzle" well known from the literature, where a part of individuals pays too much and a part nothing for …

human capital as well as the design of educational systems. Using data from two retrospective life-history surveys this … paper examines the impact of more general school-based vocational training (Sweden) and more specific apprenticeship …

the credit market and the deposits market. Using the aggregated balance sheet of the banking sector, endogenous money is …. -- monetary policy ; Endogenous money ; industrial organization approach to banking theory ; money multiplier ; vector error …