and on the literature of imperfectly divisible consumption to argue that the general purpose of insurance is not a risk … transfer, but meeting a conditional need. In this way, insurance aligns the risk in one's ftnancial endowment with the risk in …

information with actors who exhibit risk aversion. In this paper we develop a game theory model that analyzes the negotiation of …. In most situations, insurance markets are not competitive and risk neutral insurers negotiate under asymmetric … an insurance contract under risk aversion conditions (in static and dynamic approach). Risk aversion influence was …

contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the …

then supposed to become larger and more heterogeneous. With respect to the insurer’s risk profile, there is a trade … more important issue that we address. In actuarial practice, the different mortality levels of the several risk classes are … model. We suggest adopting a frailty model for risk classification. We identify risk groups (or classes) within the …

Determinants of risk attitudes of individuals are of great interest in the growing area of behavioral economics that … purpose of this paper is to review the empirical literature on risk aversion (and risk behavior) with a particular focus on … insurance demand or consumption. Empirical research on risk aversion may be categorized into two main areas, i.e. 1) the …

about their risk and risk aversion. The model includes random damages and allows for several claims, while insurees choose … from a finite number of coverages. We show that the joint distribution of risk and risk aversion is nonparametrically …

such insurance lines, securitizationis rapidly emerging as an alternative form of risk transfer. The ultimatesuccess of … separate components, one of which is atype of systemic risk that is highly correlated amongst insureds. Such acorrelated …, which illustrate ourmethodology in several types of insurance markets subject to systemic risk. …

of catastrophic insurance. Building on our estimation results, we discuss the scope for the risk transfer to the …

, we investigate the effect of two important dimensions of a country’s culture, societal trust and risk avoidance, on risk … taking by insurance firms around the world between 2001 and 2014. We measure societal trust and risk avoidance using the … trust and insurer risk taking in a country, while there is a negative and significant association between the level of risk …