low probability event is also "catastrophic", it is never optimal not to insure the catastrophic risk when some insurance … is purchased for the other risk. We also obtain some additional properties of the optimal insurance strategy in the case …

, labor contracts and unemployment insurance, Rawlsian design of social contracts, provision for retirement, and many others … the originally 'bad' outcomes become preferred to originally better ones. Or as another example, if fair insurance is … available, the rational resource owner will buy so much insurance that the otherwise 'bad' contingency becomes preferred. This …

This paper is about how to evaluate credit and insurance programs like the Gramee Bank in Bangladesh; Accio, Prodem …

We provide a characterization of an optimal insurance contract (coverage schedule and audit policy) when the monitoring …

econometric models. Some applications to the choice of automobile insurance contracts and to the demand for life insurance are …