Temporary incentives are offered in anticipation of persistent effects, but these are seldom estimated. We use a nationwide randomized experiment in the Philippines to estimate effects three years after the withdrawal of two incentives for health insurance. A premium subsidy had a persistent...

Since securities markets are subject to a great deal of uncertainty and complexity, the returns of securities cannot be accurately estimated by historical data. In this case, it must use experts’ knowledge and judgment. Therefore, we investigate portfolio selection problems in such uncertain...