Public opinion plays an important role in affecting policy outcomes. Additionally, risk plays an equally important role in decision making (economic and noneconomic). Yet, we know little about how individuals incorporate risk when forming attitudes on public policy issues. When asked to give an...

This paper investigates the impact of a life insurer’s liability structure on its incentives to invest in hedge funds. The analysis is based on a simulation model of a life insurance company selling with-profit life insurance policies with cliquet-style interest rate guarantees. The insurer...

The coexistence of mutual and stock organizational form in insurance has been the topic of extensive study. This article provides a review of theoretical and empirical literature from three perspectives: agency problems in each form, efficiency, and the causes of conversion between the two...

This study uses game theory to consider the impact of loss control (LC) and monitoring costs on insurers’ monitoring activities and investigate how the level of the insurance premium changes monitoring activities. The main results are as follows. First, a firm always undertakes LC when the LC...