contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The … Italian households do not have access to significant insurance beyond self-insurance. …

In this paper, we study two classical saving-insurance problems for the intertemporal version developed by Hayashi and … sufficient conditions such that risk, ambiguity and time preferences together always raise the demand for saving and self-insurance …

The real-world insurance markets show that the experience of having an accident increases insurance purchases in the … next period relative to insurance purchases when in the immediately prior period there was no accident. There have been … the present paper, using a simple two-period model of intertemporal insurance, we posit a second reason for the effect …

This paper studies insurance demand for individuals with limited financial literacy. We propose uncertainty about … insurance payouts, resulting from contract complexity, as a novel channel that affects decision-making of financially illiterate … individuals. Then, a trade-off between second-order (risk aversion) and third-order (prudence) risk preferences drives insurance …

contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk … significant insurance beyond that implied by self-insurance. …