We re-examine insurance purchases when life insurance and life annuities carry loads. The life cycle literature says that it is optimal to participate in these insurance markets throughout life, even under loads. A life annuity phase backs directly onto a life insurance phase. However, the...

Books reviewed: Harry F. Campbell and Richard P.C. Brown (eds.), Benefit-Cost Analysis. Kishor Sharma (ed.), Trade Policy, Growth and Poverty in Asian Developing Countries. Bruno S. Frey and Alois Stutzer (eds.), Happiness and Economics. Robert C. Allen, Farm to Factory: A Reinterpretation of...