contracts to crowd out implicit insurance, even though the latter yields higher welfare.Integrating the principal-agent and …

spells and (ii) reduced reemployment wages. Although full insurance requires both unemployment benefits and wage insurance …, supply difficulties limit actual-loss insurance, and separation packages typically include partial unemployment insurance and … integration of these insurance instruments in this complex planning environment. One important implication: given the structure of …

In this paper, we ask under what conditions norms can enhance welfare by mitigating moral hazard in income insurance … social norms and internalized norms. We study how optimal insurance arrangements, the behavior of insured individuals, and …

Disability Insurance (DI) may affect workers' outcomes such as their probability to enter DI, to recover, and their … employment. Supplementary insurance may increase these moral hazard effects, but also increases the financial gains of private … increased insurance coverage on workers' outcomes are thus ambiguous. This paper aims to separate worker and insurer responses …

The theory of insurance is considered here when an insured individual may be able to sue another party for the losses … that the insured suffered — and thus when an insured has a potential source of compensation in addition to insurance … coverage. Insurance policies reflect this possibility through so-called subrogation provisions that give insurers the right to …