results on the impact of ambiguity on insurance demand for low probability risks. Lastly, our experiment provides a clear …

Singapore's government imposed two rounds of demand restrictions in 2011 and 2013, respectively, which disallow private … transaction data between 2005 and 2015, we find that the demand shocks in 2010 and 2013 cause prices of investors' transactions to …

Demand for insurance can be driven by high risk aversion or high risk. We show how to separately identify risk …

depends on the consumers' rational price expectations from the recent past. By implication, demand responses are more elastic … for price increases than for price decreases and thus firms face a downward-sloping demand curve that is kinked at the … consumers' reference price. Firms adjust their prices flexibly in response to variations in this demand curve, in the context of …

uncertainty. We completely characterize the relationship between changes in risk aversion and classical demand theory. We show …