that hardly explains the many features of an insurance contract. We extend this setup to include the situation that the … costlessly observable, then it should be included in the contract to improve the risk sharing-incentive trade-off under moral … resulting incompleteness of the contract opens the door to controversies and disputes that may lead to judicial procedures. We …

insurance by strictly-risk averse agents and risk-neutral firms when they enjoy limited liability. When exposed to a bankrupting … decision to insure will depend on whether the benefits the insuree derives from insurance after having compensated the damaged …

purchases a good to compensate consequences of unfavorable events, such as an accident or an illness. Insurance policies in most … lines of insurance base indemnity on the insured's actual expenses, i.e., the insured would be partially or completely … reimbursed when purchasing certain goods. In this setting we discuss the interaction between insurance and repair markets by …

allows them to extend to consumers individually adjusted fair insurance offers. In a market which is characterized by … for the analysis in this thesis. Its purpose is to study the incentives of the agents in the car insurance market … in terms of the design of contracts and to the policy maker in terms of regulating the insurance market. After a short …

hazard. The paper concentrates on the conditions under which the standard insurance contract holds under moral hazard and … rarely ever optimal to combine two losses in one insurance contract prescribing only a single deductible for both losses if …Under certain conditions the optimal insurance policy will offer full coverage above a deductible, as Arrow and others …