Severe natural catastrophes in the early nineties have brought about a lack of financial capacity in the catastrophe line of the global reinsurance market. The finance industry reacted to this situation by issuing innovative products designed to spread the excess risk more widely among...

This paper presents an experimental investigation of risk taking in the domain of losses. The experiments are conducted with students in several universities during introduction rudiments to expected utility theory and risk behaviour. The results are partly compatible with expected utility...