The paper reviews the evolution in insurance economics over the past 25 years, by first recalling the situation in 1973 … were only possible because steady advances were made in the economics of risk and uncertainty and in financial theory. …

In the psychological and sociological framework of risk, we establish a static and dynamic equilibrium model for risk …-sharing institutional evolution. Particularly, through a comparative study of marine insurance development in China and Europe, we address a … wide set of research questions concerning why China and Europe relied on different social organizations for risk sharing. …

led to insurance. In this article we present the chronological evolution of the phenomenon of insurance from its origin in … diversification and development of insurance services in various historical eras. …

of insurance. Third, we help answer the puzzle why the most risk averse are least likely to take up agricultural …We employ a novel approach to investigate the reasons for a low demand for agricultural insurance. We confirm that … farmers systematically undervalue agricultural insurance. First, we find that private transfers, mainly from family members …

of insurance. Third, we help answer the puzzle why the most risk averse are least likely to take up agricultural …We employ a novel approach to investigate the reasons for a low demand for agricultural insurance. We confirm that … farmers systematically undervalue agricultural insurance. First, we find that private transfers, mainly from family members …

often interpreted as insurance: by decreasing the probability of future drops in the provision of ecosystem services …, resilience insures risk-averse ecosystem users against potential welfare losses. Using a general and stringent definition of … insurance and a simple ecological-economic model, we derive the economic insurance value of ecosystem resilience and study how …

Reputational risk has become a critical concern for most organizations. Insurers, who rely on trust to generate … expectations, which we test using a rich data set on operational loss risk events. Results indicate that passage of the Sarbanes … significantly related to reputational risk. In some samples, Tobin's Q, the level of competition, and the discount rate also were …

insurance by strictly-risk averse agents and risk-neutral firms when they enjoy limited liability. When exposed to a bankrupting … decision to insure will depend on whether the benefits the insuree derives from insurance after having compensated the damaged …

Index triggers have enabled the extension of insurance to disaster risks by providing a simple mechanism to determine … insurance payment. Disaster risks are notoriously difficult to insure against due to the covariant nature of risks, moral hazard … and adverse selection. Index based risk transfer minimizes these obstacles by not fully insuring the risk. However, such …

self-insurance, self-protection and market insurance obtained by Ehrlich and Becker (1972) under the expected utility … hypothesis. In particular, background risk, non-reliability, insolvency and asymmetric information are considered. …