This paper studies the effect of increased risk aversion on self-insurance and self-protection in a two … between self-insurance and risk aversion may no longer hold as more risk-averse agents cannot always afford spending more on … self-insurance. A very similar relationship holds for self-protection making self-insurance and self-protection much more …

We investigate the economic impact of stochastic endogenous extreme events and insurance in a growth model. Our … analytical results and computational experiments show that i) transparency of the insurance sector is the decisive requisite for … insurance fairly is preferable to an insurance industry which provides insurance with an overhead. …

The valuation of insurance liabilities has traditionally been dealt with by actuaries, who closely monitored underlying …