may destabilize insurance arrangements among the larger group. We therefore consider self-enforcing risk … must itself employ some self-enforcing risk-sharing agreement. We observe that the stability of subgroups is inimical to …) bounded size, a result in sharp contrast to the individual-deviation problem, and that the degree of risk-sharing in a …

Using choices among hypothetical income lotteries from respondents to a large Norwegian survey, we analyse the … impute a risk aversion measure to every respondent and use this to estimate the correlation with observed risky behaviour …. Under the additional assumption of CRRA preferences, the sample average for the coefficient of relative risk aversion is 3 …

idiosyncratic income risk. Self-enforcing contracts for both the original coalition and any deviating coalition rely on a belief in …We analyze efficient risk-sharing arrangements when coalitions may deviate. Coalitions form to insure against … coalitions, the extent of risk sharing in successfully formed coalitions is declining in the extent of social capital and …