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

insurance in rural communities usually requires a structural model of household behavior under risk. One of the few empirical … would not benefit from the introduction of formal weather insurance. In this paper we investigate how models such as theirs … conclusion that insurance would not be welfare improving. …

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

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

This discussion paper led to a publication in the <I>Journal of Risk and Insurance</I>. Vol. 72(1), pages 45-59.<P> We … take a dynamic perspective on insurance markets under adverseselection and study a generalized Rothschildand Stiglitz model … unconditional dynamiccontract has insurance companies offeringcontracts where the terms of the contract depend on time, but not …

insurance to employers: when firms are hit by temporary shocks the effect on profits is cushioned by risk sharing with workers …

Availability of (partial) insurance mechanisms is arguably important for the decision of (riskaverse) workers to start … up a risky entrepreneurial venture. Using administrative data from Denmark, where unemployment insurance (UI) is … UI choice process. Results show that the causal effect of insurance on the probability of starting up a venture is …