beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical … contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … insurance literature and then summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …

Why are insurance markets for new or nonstationary risks often tiny, even when those risks are massive? To answer this … assess prospective policies and show the consequent intrinsic margin reduction of insurance. In particular, I show how policy … discuss implications for datasharing and antitrust policy in young insurance industries …

Insurance for natural hazards - earthquakes, hurricanes, or pandemics - is rarely comprehensively adopted without …. Efforts to close this insurance gap include the introduction of parametric (index) insurance products for various catastrophic … risks. We compare parametric to indemnity insurance in a simple model where the insurance company has superior information …