information, equilibria are efficient, and we determine the degrees of specialization under which the specialized insurers are … tradeoff between efficiency and fairness of the allocation, we give indications on the desirable structure of the insurance …

information, equilibria are efficient, and we determine the degrees of specialization under which the specialized insurers are … tradeoff between efficiency and fairness of the allocation, we give indications on the desirable structure of the insurance …

risk averse anymore even if utility from divisible consumption is concave. I propose a definition of insurance in the … context of state-dependent preferences and investigate the different motives underlying insurance demand. The same reasons … that bases insurance demand on risk aversion with important implications for policy and research. …

preferences. Full insurance cannot be rejected. As the risk-sharing as-if-complete-markets theory might predict, estimated risk …

) shows that this constraint might well bind: insured could get higher expected utility if insurance contracts would allow … optimal insurance contract he derives underestimates the relevance of the non-negativity constraint on indemnities. This paper …

form of an insurance contract to impose partial insurance of the low risks. This paper contributes to the discussion on … optimal insurance. It analyzes two basic forms of insurance contracts: A contract with a deductible and a contract imposing a … positive co-insurance rate. Since high risks can always self-reveal themselves as high risks and buy the optimal insurance …

transaction costs compared to (re)insurance products. Insurance coverage usually incurs costs of acquisition, monitoring and loss … tools in a standard insurance demand theory environment. We concentrate on the problem of basis risk versus transaction cost …

Do migrants send remittances as a way of obtaining insurance? While this motive is theoretically suggested in the … a "purchase of self insurance" motive to remit, we also provide evidence of more remittances sent by risk averse …

We examine insurance markets with two types of customers: those who regret suboptimal decisions and those who don.t. In … this setting, we characterize the equilibria under hidden information about the type of customers and hidden action. We … positive correlation between the amount of insurance coverage and risk type, as in the standard economic models of adverse …