-free physical capital and risky human capital. Households have access to a complete set of credit and insurance contracts, but their … households less than half of human capital risk is insured and the welfare losses due to the lack of insurance range from 3 … parameters have non-negligible effects on equilibrium insurance and welfare, but the result that young households are severely …

partial insurance of parental investments against permanent income shocks, but the magnitude of the estimated responses is … small. We cannot reject the hypothesis full insurance against temporary shocks. Another interpretation of our findings is … that there is very little insurance available, but the fact that skill is a non-separable function of parental investments …

provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results … reveal that the insurance component contributes significantly to optimal labor tax rates and provides an informative lower …

spells and (ii) reduced reemployment wages. Although full insurance requires both unemployment benefits and wage insurance …, supply difficulties limit actual-loss insurance, and separation packages typically include partial unemployment insurance and … and in combination, introduce potentially serious contracting concerns. Economic theory provides a practical guide to the …

This high-stakes experiment investigates the effect on buyers of mandatory disclosures concerning an insurance policy … trusting plays an important role. Trust is clearly associated with greater willingness to pay for insurance. Unlike in previous … of breach is negligible. However, as for much B2C insurance marketing, face-to-face selling plays a crucial role in our …

We characterize how public insurance schemes are constrained by hidden financial transactions. When non …-exclusive private insurance entails increasing unit transaction costs, public transfers are only partly offset by hidden private … of insurance on unobservable effort and saving choices as well as the relative cost of public and private insurance …

patterns: entrepreneurs following an 'insurance regime' comply with sharing norms, are insured but reduce investment in their … solidarity ; informal insurance ; investment ; micro and small enterprises ; sharing ; Sub-Saharan Africa …

with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then … standard functional form restrictions ensure that individual objective functions are optimized by an effort and insurance … combination that is unique and satisfies first- and second-order conditions. Modeling insurance incompleteness in terms of costly …

-level, idiosyncratic risk implies that distinct risk-sharing institutions - even those providing the same level of insurance - can lead to …

Disability Insurance (DI) may affect workers' outcomes such as their probability to enter DI, to recover, and their … employment. Supplementary insurance may increase these moral hazard effects, but also increases the financial gains of private … increased insurance coverage on workers' outcomes are thus ambiguous. This paper aims to separate worker and insurer responses …