Hoy, Michael; Mirza, Afrasiab; Sadanand, Asha B. - 2018
unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over … whose type turns out to be high risk but low demand renew more of their GR insurance than is efficient due to the attractive … literature that, when there is (only) risk type uncertainty, the optimal GR contract with renewal price set at the actuarially …