consider the possibility for optimal layers of reinsurance and retrocession in the design of the insurance industry. A general …There is a natural tradeoff between the benefits of increasing the number of competitors in an insurance market and the …

further that an analogous “fourth-root rule” applies to markets for retrocession (the reinsurance of reinsurance). …

Home equity insurance policies, policies insuring homeowners against declines in the price of their homes, would bear … some resemblance both to ordinary insurance and to financial hedging vehicles. A menu of choices for the design of such … insurance company in effect serves as a retailer to homeowners of short positions in real estate futures markets or of put …

. As an example, we present applications of affective decision-making in insurance markets, where the risk perceptions of …

. As an example, we present applications of affective decision-making in insurance markets, where the risk perceptions of …

's deliveries are the same at all pools. The Rothschild-Stiglitz model of insurance is included as a special case. We show that by …

insurance markets, where risk perceptions are endogenous. …

's deliveries are the same at all pools. The Rothschild-Stiglitz model of insurance is included as a special case. We show that by …

change in fundamentals. In C-models, the ability to leverage an asset always generates over-investment compared to Arrow …

even in the absence of any shift in utilities, productivity, or asset payoffs. First we show that the ability to leverage …