Following [10] we continue the study of the problem of expected utility maximization in incomplete markets. Our goal is to find minimal conditions on a model and a utility function for the validity of several key assertions of the theory to hold true....

This paper shows how cognitive human dispositions that take effect at the level of an individualfirm’s corporate culture have repercussions on an industry’s evolution. In our theory, the latter isattributable to evolving corporate cultures coupled with changes in a firm’s...

The Spanish immigration phenomenon and its consequences for the insurance industry, The effect of immigration on the demographic time-bomb in Spain; The effect of immigration on the Spanish insurance market...

Immigration context on Spain; Who are them and where do they come from?; What are they looking for?; Life cycle in country of destiny; Life style/profile overview; How to face up the challenge; AXA Spain Experience...