We formalize a consumption-investment-insurance problem with the distinction of a state-dependent relative risk …

The heart of insurance – what enables insurance to function – is risk aversion. It follows from the fact that potential … policyholders are risk averse that sometimes they are also averse to the risk that insurance covering a loss will not be available … providing insurance against these risks. I call this “insurance insurance,” and explore where this way of thinking about the …

Empirical evidence suggests that ambiguity is prevalent in insurance pricing and underwriting, and that often insurers … findings, we consider a problem of demand for insurance indemnity schedules, where the insurer has ambiguous beliefs about the …