I revisit the question of which motive underlies insurance demand. I draw on the literature of state-dependent utility … 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 …

the parameters of a structural model of risky choice. Working with data on households' deductible choices across three … lines of insurance coverage and a model that nests expected utility theory plus a range of non-expected utility models, we …

often interpreted as insurance: by decreasing the probability of future drops in the provision of ecosystem services … "insurance" and a simple ecological-economic model, we derive the economic insurance value of ecosystem resilience and study how … insurance value of resilience is negative (positive) for low (high) levels of resilience, (ii) it increases with the level of …

high-load insurance against modest stakes risks. Mandatory information disclosure is a potentially attractive public policy … tool that might improve consumers' choices, but has not been widely tested in insurance settings. We conduct an incentive …-compatible insurance demand experiment in which we manipulate the information disclosed to subjects. We test whether any of the three most …

as the importance of joint estimation. In addition, over our stakes levels we find no difference in the estimated …