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 …

We develop a simple model of managing a system subject to pollution damage under risk of an abrupt and random jump in …

This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We … consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate …

Common integrated assessment models produce the counterintuitive result that higher risk aversion does not lead to …. The simulations show that aversion to this tipping point risk has little effect. For climate sensitivity of realistic …

of systemic risk in the global financial system. This means that one of the most important current questions in … terms – in particular the ubiquitous notion of risk – but attach fundamentally different meanings to them. With the proper … activities, the limits of insurance can be re-established. Such delineation is essential to determine appropriate systemic risk …