compensation schemes and ambiguity on insurance and self-insurance decisions. Consistent with theory, we find that government … the purchase of an insurance policy. Thirdly, we find that ambiguity, i.e., uncertainty about probability, significantly … increases WTPs for insurance. This result, which indicates that decision-makers are ambiguity averse, is in line with previous …

ambiguity concerning the probability of fire occurrence positively affects both insurance participation and coverage …In this article, we estimate the demand of French private forest owners for forest insurance against fire risk. For … consists in estimating both insurance participation and coverage-level decisions, while accounting for sample selection issues …

probabilities on the new states. The agents in the economy are classified with respect to their attitude towards this Ambiguity: the … financiers are (locally) Ambiguity-seeking while the consumers are Ambiguity-averse. An entrepreneur and a financier come together … contracting problem does not fall within the standard theory due to the presence of Ambiguity (on the financier’s side) and to the …

probabilities on the new states. The agents in the economy are classified with respect to their attitude towards this Ambiguity: the … financiers are (locally) Ambiguity-seeking while the consumers are Ambiguity-averse. An entrepreneur and a financier come … contracting problem does not fall within the standard theory due to the presence of Ambiguity (on the financier’s side) and to the …

Given the possibility to modify the probability of a loss, will a profit-maximizing insurer engage in loss prevention … expected profit maximizing loss probability within an expected utility framework. We then use Köszegi and Rabin's (2006, 2007 … engage in loss prevention activities, this to the benefit of consumers. Our results show that one should be cautious in doing …

substitution between insurance and saving, to the case where prevention is considered too. …This work makes a joint analysis of prevention and saving decisions. First we determine the optimal levels of the two … effects on optimal saving and prevention of changes in exogenous present and future wealth and in possible future loss …

Bernard et al. (2015) study an optimal insurance design problem where an individual's preference is of the rank …-dependent utility (RDU) type, and show that in general an optimal contract covers both large and small losses. However, their contracts …

-reach with the exception of Jordan, Lebanon and Palestine, and in most Western Asian countries, insurance companies do not see a … need to turn to low-income earners. (iii) Insurance, co-operative and NGO laws of several countries constitute constraints …