We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice …. Our main findings are robust to a variety of modeling assumptions. -- deductible ; loss aversion ; probability weighting …

We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates "standard … important role in explaining the aversion to risk manifested in deductible choices. This finding is robust to allowing for …

We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates 'standard … important role in explaining the aversion to risk manifested in deductible choices. This finding is robust to allowing for …

We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice …

We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates standard … important role in explaining the aversion to risk manifested in deductible choices. This finding is robust to allowing for …

I revisit the question of which motive underlies insurance demand. I draw on the literature of state-dependent utility … and on the literature of imperfectly divisible consumption to argue that the general purpose of insurance is not a risk … transfer, but meeting a conditional need. In this way, insurance aligns the risk in one's ftnancial endowment with the risk in …

the parameters of a structural model of risky choice. Working with data on households’ deductible choices across three … lines of insurance coverage and a model that nests expected utility theory plus a range of non-expected utility models, we …

European region reduces the regional GDP by 0.4%-0.6%; an average flood event in the U.S.A reduces the personal income by 0 ….3%-0.4%. Mandatory insurance regimes in Europe absorb the negative short-run effect of a flood, while the National Flood Insurance … Program (NFIP) in the U.S.A. mitigate the effects of a flood by about 50%. The results provide empirical foundation for the …

This paper describes the challenges consumers, insurers and insurance regulators face in dealing with insurance for low … engage in short-term intuitive thinking rather than long-term deliberative thinking when making insurance-related decisions … problems and provide coverage for catastrophic risks. Insurance premiums based on risk provide signals to residents and …