for the development of public-private partnerships, as recognized in November 2002 when the Terrorism Risk Insurance Act … of 2002 (TRIA) was passed. This paper shows, however, that the temporary insurance system established by TRIA is neither … current level of demand for insurance coverage has remained low and we discuss some factors that may contribute to it. After …

autarky, but also partial and full insurance can obtain, depending on the relative patience of agents and financial … intermediaries. Insurance can be provided because in an equilibrium contract an up-front payment effectively locks in the agent with …

does not alter this result. We also show that the informationally constrained optimal insurance contract has a resetting …

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 …

in interest rates would have led to liquidity needs close to the cash holdings of the pension fund and insurance sector …

the seemingly failure of the private insurance market to provide coverage for terrorism losses after the attack on … government provision of terrorism insurance. The paper argues that mostly unfettered insurance and capital markets are capable of …