Option markets have significant variation in liquidity across different option series. Illiquidity reduces the informativeness of the price. Price information for illiquid options is more noisy, and thus the implied volatilities based on these prices are more noisy. In this paper, we propose a...

We introduce financial education that helps potential retail consumers of a suboptimal insurance product with shrouded attributes ask the right questions, and provide rules of thumb to evaluate theproduct. Our intervention reduces the potential demand for the suboptimal product. We use a model...