This paper reports the results of an experiment in which probabilistic insurance, as proposed by Kahneman and Tversky (1979), is compared both with full insurance and no insurance. The experimental results conform to the intuitive prediction that risk-averse agents who are indifferent between...

The Human Development Index has experienced substantial modifications in the 2010 edition of the Human Development Report (changes in some of the variables, a different aggregation procedure, and the introduction of distributive considerations, among others). Those changes respond to some...