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

the insurance sector. The downside risk of insurers is explicitly modelled by common and idiosyncratic risk factors. Since … results point to a relatively low insurance sector wide risk. Dependence among insurers is higher than among reinsurers. …

This paper empirically analyzes moral hazard in car insurance using a dynamic theory of an insuree's dynamic risk (ex … ante moral hazard) and claim (ex post moral hazard) choices and Dutch longitudinal micro data. We use the theory to …

We offer a theory of how the combination of budget constraints and insurance drives up prices. A natural context for … our theory is the health care market, where drug prices can be very high. Our model predicts that monopoly prices for …

standard approach subsequent to becoming regulated, i.e., the presence of regulation may induce a bank to decrease the quality …

We formally link insurance markets with product markets and identify a demand effect of insurance: if risk …-averse consumers can buy insurance against possible product failure, there will be some additional consumers that buy the product … have a higher willingness to pay if they can also buy insurance. But a higher price causes those consumers to leave the …