This paper examines market reaction to the introduction of enhanced annuities in a market for deferred standard annuities. The previous literature shows that individuals can try to avoid risk classification by contracting a standard annuity earlier in their life. This paper offers a new...

Reinsurance is a transaction insurance firms use to hedge risk. Existing studies have only investigated the demand for reinsurance. Thus, we do not have direct evidence on whether the use of reinsurance creates value. Our study provides this evidence. We find a positive relation between the use...

Abstract The paper examines the influence of health savings accounts (HSAs) on optimal savings, insurance demand and prevention effort over the course of a lifetime. This paper adds to the literature by investigating HSAs as both a form of insurance and as saving vehicle in an expected utility...

This paper discusses suitable ways to implement Health Savings Accounts (HSAs) in German Statutory Health Insurance (SHI) building on the introduction of so-called Flexible Health Plans (“Wahltarife”) according to Sec. 53 para. 1 Social Security Code V in 2007, which allows insurers in SHI...