training affects worker sorting to firms, sample selection is no longer binary but is "multilayered". This paper extends the … canonical Heckman (1979) sample selection model - which assumes selection is binary - to a setting where it is multilayered, and …

transactions cost-mobility constraints. Contracts provide full unemployment insurance for risks that are diversifiable by pooling … among firms. Nondiversifiable (macro) risks are only partially shifted,largely through self-insurance (contingency saving …

Can measured risk attitudes and associated structural models predict insurance demand? In an experiment (n = 1,730), we … insurance choices over different loss probabilities and prices. The insurance choices show coherence and some correlation with … various risk-attitude measures. Yet all the structural models predict insurance poorly, often less accurately than random …

-sharing reductions on the health insurance exchanges …Insurance affects the variability of consumption over time, which is not captured in standard expected utility of … value of insurance. Liquidity constraints generate high insurance demand when premiums are due smoothly, sometimes leading …

We develop a new framework for valuing health and longevity improvements that departs from conventional but unrealistic … assumptions of full annuitization and deterministic health. Our framework can value the prevention of mortality and of illness … consumers value life-extension more in bleaker health states. Third, retirement annuities boost aggregate demand for life …

hedge funds, banks, brokers, and insurance companies based on principal components analysis and Granger-causality tests. We … the finance and insurance industries. These measures can also identify and quantify financial crisis periods, and seem to …, banks, insurance companies, and brokers …