This paper empirically analyzes moral hazard in car insurance using a dynamic theory of an insuree's dynamic risk (ex …

and deters parties from settling disputes out of court. In contrast, the law is certain ex post: litigation fosters the … of a legal system (kept under control by litigation) and its litigation rate (sustained by uncertainty). We describe such … equilibrium rates in a model of tort litigation, study how they are affected by different policies, and compare the costs and …

worker buys an insurance, which gives a constant income and retirement benefits in exchange for the total output. The level …

insurance. For this we specify and estimate dynamic models for health insurance decisions and health care utilization. Estimates …

contracts to crowd out implicit insurance, even though the latter yields higher welfare. Integrating the principal-agent and …

We take a dynamic perspective on insurance markets under adverse selection and study a generalized Rothschild and … accident occurs. We investigate the nature of dynamic insurance contracts by considering both conditional and unconditional … dynamic contracts. An unconditional dynamic contract has insurance companies offering contracts where the terms of the …

We study an insurance model characterized by a continuum of risk types, private information and a competitive supply …