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 …

insurance and incentive motivations. Second, unobservable markets do induce default, but only as long as insurance markets are …

I develop a theory of financial intermediation to explore how the availability of trading opportunities affects the …

This paper deals with the phenomenon of risk-selection and its appearance in the german compulsory health insurance …

. -- monetary policy ; Endogenous money ; industrial organization approach to banking theory ; money multiplier ; vector error …

delivery risk generated by the suppliers. The present article offers a method that uses portfolio management theory to chose …

theory, showing how they build on common foundations. We then lay out a tractable benchmark version of the model that allows …