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 …

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 …

This chapter defines a universal public pension scheme (UPPS) as a government-mandated lifecycle longevity insurance …

In this study we experimentally investigate whether solidarity, which is a crucial base for informal insurance … arrangements in developing countries, is sensitive to the extent to which individuals can influence their risk exposure. With slum … participants could either deliberately choose or were randomly assigned to a safe or a risky project. We find that when risk …

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 …

-2017, we estimate the price effects of three flood risk signals: 1) the Biggert-Waters Flood Insurance Reform Act, which … reduced-form estimates into the effects of insurance premium changes and belief updating. Results suggest the new maps induced … belief changes comparable to those from insurance reform …

that considers both diagnostic uncertainty of sellers and the effects of insurance coverage of consumers in a unified … uncertainty decreases the rate of efficient service provision and leads to less trade. In theory, insurance also decreases the … net effect on welfare. In the experiment, the net effect of insurance coverage on efficiency turns out to be positive. We …

households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable … macroeconomic model with human capital risk, age-dependent returns to human capital investment, and endogenous borrowing constraints … due to the limited pledgeability of human capital. We show analytically that, consistent with the life insurance data, in …

We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We … provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … independent of the social welfare function and determined by the degree of income risk and risk aversion. The optimal linear …