. We reexamine this issue with an experiment that accounts for possible confounds in prior insurance experiments. Our … extent underinsurance for catastrophic risk is observed in the field, it can be attributed to factors other than the relative …

-linked insurance policy is a good investment. If we pursue pure, immediate profitability, we can choose another investment, as the … primary function of insurance is not of investment, but of protection. Unit linked is a new product that preserves its modern …

investment problems have been formulated. …

. The coverage includes decision-making under uncertainty, measuring risk and risk aversion, insurance and asset markets …

measure, (3)calculates relative risk aversion. The results of the experiment indicate that as the probability of loss and loss …The study investigates protective responses in low probability and high loss risk situations. Particularly, it (1 … (particularly women) are found to be risk averse for low probabilities. …

).We demonstrate that the result of the test depends crucially on how the dynamic process between insurance claims and contract choice … is modelled.We apply a Granger causality test controlling for the unobservables.We find evidence of moral hazard which we … distinguish from adverse selection using a multivariate dynamic panel data model.Experience rating appears to lead high risk …