This article examines, under the Dual Theory of Choice (Yaari (1987)), the classical results and their extensions on … self-insurance, self-protection and market insurance obtained by Ehrlich and Becker (1972) under the expected utility … hypothesis. In particular, background risk, non-reliability, insolvency and asymmetric information are considered. …

This paper uses direct evidence on the self-perceived and actual mortality risk of individuals, as well as the price … and quantity of their life insurance, to evaluate whether asymmetric information is a barrier to trade in insurace markets. …

This paper studies optimal property insurance in the presence of equity risk and conversion risk. Equity risk is … randomness of the value of a property. It tends to raise demand for conventional insurance on the property effectively increasing … the risk aversion of the property owner. In contrast, conversion risk is randomness in the value the property would have …

This article examines, under the Dual Theory of Choice (Yaari (1987)), the classical results and their extensions on … self-insurance, self-protection and market insurance obtained by Ehrlich and Becker (1972) under the expected utility … hypothesis. In particular, background risk, non-reliability, insolvency and asymmetric information are considered. …

We study imperfect competition between insurers in a multiple-risk environment. In the absence of asymmetric … tradeoff between efficiency and fairness of the allocation, we give indications on the desirable structure of the insurance …

We study imperfect competition between insurers in a multiple-risk environment. In the absence of asymmetric … tradeoff between efficiency and fairness of the allocation, we give indications on the desirable structure of the insurance …

Exclusions are part of any property insurance. A prototypically simple contract covers losses from a single peril but … excludes losses from all other perils and, typically, from the insured peril in some instances. Demand for insurance is … impacted by exlcuded risks. There are two tendencies here: Exclusions might increase demand by heightening risk aversion, or …

This article deals with optimal insurance contracts in an imprecise probabilities framework. The informational …

This paper extends previous resuls on optimal insurance trading in the presence of a stock market that allows … with references to the role of genetic testing in insurance markets. We find a novel and surprising result under symmetric … information: agents may optimally prefer to purchase full insurance despite the presence of unfairly priced insurance contracts …

This paper, instead of focusing on agency cost, analyzes the role of risk-sharing under problems of enforceability …