. We reexamine this issue with an experiment that accounts for possible confounds in prior insurance experiments. Our … extent underinsurance for catastrophic risk is observed in the field, it can be attributed to factors other than the relative …

then test allowing for this heterogeneity. There is substantial, statistically significant heterogeneity in estimated risk …We show how to use panel data on household consumption to directly estimate households’ risk preferences. Specifically …, we measure heterogeneity in risk aversion among households in Thai villages using a full risk-sharing model, which we …

such state-dependent indivisible consumption opportunities influences a person’s risk attitudes. In general, people are not … risk averse anymore even if utility from divisible consumption is concave. I propose a definition of insurance in the … that rule out risk aversion turn out to be the basis of a desire to insure. This calls into question the standard approach …

lab-in-the-field experiment conducted in Cambodia. Half of the subjects face the risk to lose a large proportion of their …

literature that, when there is (only) risk type uncertainty, the optimal GR contract with renewal price set at the actuarially … fair price for low risk types provides full insurance against reclassification risk. We develop a model that includes … unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over …

-linked insurance policy is a good investment. If we pursue pure, immediate profitability, we can choose another investment, as the … primary function of insurance is not of investment, but of protection. Unit linked is a new product that preserves its modern …

investment problems have been formulated. …