A rent guarantee insurance (RGI) policy makes a limited number of rent payments to the landlord on behalf of an insured … equilibrium model of housing insecurity and show it increases welfare by improving risk sharing across idiosyncratic and aggregate … society. While unrestricted access is not financially viable with either private or public insurance providers due to moral …

We study portfolio allocation and characterize contracts issued by firms in the international financial market when …' perceived ambiguity have the opposite effect, and lead to less risk-sharing. Entrepreneurs from capital-scarce countries finance … ambiguity, that is, when investors only perceive risk. New facts uncovered from cross-country firm-level data are consistent …

In three binary choice problems, people reveal a choice pattern which falsifies expected utility theory and many …

indices taking values between zero and one, zero representing an open market and one a market completely closed to foreign … commercial banking and insurance services and captures regulations in force in 2013. The scores in commercial banking range … between 0.06 and 0.55, with a sample average of 0.19. The scores in insurance services range between 0.05 and 0.63, with a …

contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … cycles; insurance price regulation; insurance company capital adequacy and capital regulation; the development of insurance … beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical …

market based insurance mechanisms. We find some empirical support for this conjecture in that the volatility of consumption …Amartya Sen has argued that many development and freedom measures such as health, education, political and civil … affect human welfare is because they allow individuals to better cope with risk and uncertainty that cannot be hedged using …

This paper examines the effect of uncertainty on investment timing in a game theoretic real option model. We extend the … settings of the related recent literature on investment timing under uncertainty by a more general assumption, i.e. the … investment is also influenced by the actions of a second player. The results show that a U-shaped investment …

This paper uses a controlled laboratory environment and a two-person investment game in a multi-period setting to …

against risk. We work within the framework originally established by Berg, Dickhaut, and McCabe (1995) in which trust is … strengthens the first player’s risk efficacy, or ratio of assets to risk. …

, credit constraints, risk and incomplete insurance, and departures from behavioral rules implied by simple models of …. Among the factors examined affecting decisions pertaining to technology choice and input allocations are the financial and …