more attractive for social insurance if a larger part of risk is realized in the first period of the life-cycle. Our …

of years spent in retirement” are characterized by constant or decreasing absolute risk aversion. A similar result …

of years spent in retirement” are characterized by constant or decreasing absolute risk aversion. A similar result …

more attractive for social insurance if a larger part of risk is realized in the first period of the life-cycle. Our …

Higher-order risk effects play an important role in examining economic behavior under uncertainty. A precautionary … presence of an unavoidable risk affects one’s behavior towards a second risk. These two properties also play key roles in …

literature that, when there is (only) risk type uncertainty, the optimal GR contract with renewal price set at the actuarially … fair price for low risk types provides full insurance against reclassification risk. We develop a model that includes … unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over …

with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter …. Major results include that growth, inequality, and risk are positively related in our model, but we also identify a hump …–shaped relationship between welfare and risk, indicating a tradeoff relationship between risk–pooling and growth in the determination of …