extant research on consumption insurance find that people face substantial risks that they do not fairly pool. In theory, the …

We model the emergence of formal insurance institutions as equilibria under limited contract enforceability where … formal and informal groups without requiring heterogeneity in insurance demand, because coalition-proof equilibria can fail … to exist. It also predicts where formal insurance is likely to flourish: insurance groups that hold savings become more …

partial insurance of parental investments against permanent income shocks, but the magnitude of the estimated responses is … small. We cannot reject the hypothesis full insurance against temporary shocks. Another interpretation of our findings is … that there is very little insurance available, but the fact that skill is a non-separable function of parental investments …

What are the welfare effects of a policy that facilitates for insurance customers to privately and covertly learn about … their accident risks? We endogenize the information structure in Stiglitz's classic monopoly insurance model. We first show …

We argue that US welfare would rise if unemployment insurance were increased for younger and decreased for older … accumulate high-return human capital. So unemployment insurance is most valuable to them, while moral hazard is mild. By …

their growth. Economic theory suggests uncertainty can cause firms to delay investments until uncertainty is resolved. We … macroeconomic and political uncertainty. Demand for macroeconomic shock insurance was high; 36.7 percent of microentrepreneurs in … the treatment group purchased insurance. However, purchasing insurance does not change the likelihood that a business …

This paper constructs a dynamic model of health insurance to evaluate the short- and long run effects of policies that … prevent firms from conditioning wages on health conditions of their workers, and that prevent health insurance companies from … charging individuals with adverse health conditions higher insurance premia. Our study is motivated by recent US legislation …

We study a monopoly insurance model with endogenous information acquisition. Through a continuous effort choice …