We provide a microeconomic analysis of the incentive and welfare effects of idiosyncratic return risk. While most of the existing literature has focused on risky returns as an aggregate shock, we allow for correlation between returns and the agent's non-financial endowment. Using a simple...

This Special Issue of Geneva Papers on Risk and Insurance - Issues and Practice contains 10 contributions to the academic literature all dealing with longevity risk and capital markets. Draft versions of the papers were presented at Longevity Six: The Sixth International Longevity Risk and...

Long-term care (LTC) is the largest insurable risk that old-age individuals face in most western societies. However, the demand for LTC insurance is still ostensibly small in comparison to the financial risk, which is reflected in the formation of expectations of insurance coverage. One...

This paper examines the heterogeneity in the public financing of long-term care (LTC), and the wide-ranging instruments in place to finance long-term care services. We distinguish and classify the institutional responses to the need for LTC financing as ex-ante (occurring prior to when the need...

Many studies have attempted to investigate the drivers of preventive behaviour. This study contributes to this strand of literature by examining the association between higher insurance deductibles in the Swiss health system and preventive behaviour that allows for maintaining a good diet,...

This paper investigates the effect of ambiguity on personal vaccination decision. We first characterize the vaccination decision in the absence of ambiguity. We then show that uncertainty about the probability of side effects and the efficacy of the vaccine always reduce take-up under ambiguity...