Mossin's theorem for deductible insurance given random initial wealth is re-examined. For a fair premium, it is shown that a necessary and sufficient condition, in the spirit of the Generalized Mossin Theorem for coinsurance, is impossible using the notion of expectation dependence. Next, it is...

This article studies insurance demand in a two-period framework in which an individual faces risks in both current and future periods. Models for insurance with and without the presence of endogenous saving are both discussed. In contrast to what most literature suggests, when decisions on...

This articles re-examines a standard result on the demand for insurance ("full coverage with a fair premium and partial coverage with a loaded premium"') in the presence of a default risk. It is established that the optimal insurance coverage is always partial coverage if the default is total,...

This article studies insurance demand in a two-period framework in which an individual faces risks in both current and future periods. Models for insurance with and without the presence of endogenous saving are both discussed. In contrast to what most literature suggests, when decisions on...