We investigate the economic impact of stochastic endogenous extreme events and insurance in a growth model. Our … analytical results and computational experiments show that i) transparency of the insurance sector is the decisive requisite for … insurance fairly is preferable to an insurance industry which provides insurance with an overhead. …

The valuation of insurance liabilities has traditionally been dealt with by actuaries, who closely monitored underlying …

In this paper we analyze insurance demand when the utility function depends both upon final wealth and the level of … documented in real insurance markets. …