In this study we empirically estimated the role played by attitudes toward risk in insurance
decision-making. To this end, we used the Iowa Gambling Task coupled with skin …

This study empirically estimated the role played by attitudes toward risk in insurance
decision-making. Four hundred forty-five participants underwent the Iowa Gambling Task …

The main logic behind the demand for life insurance is to hedge against the labor income
uncertainty due to premature death of a wage earner. In other words, life insurance is the …

Insurance is a form of economic activity which can only exist in a world of uncertainty. By
entering into an insurance contract, an individual gives up some amount of wealth—the …

Expected utility theory holds that the demand for insurance is a demand for certainty,
because under the conventional specification of the theory, it appears as if buyers of …

In this paper we design an experimental study to test two conventional theoretical
assumptions regarding insurance consumer decision making under uncertainty: the …

Abstract Theory suggests that people facing higher uninsurable background risk buy more
insurance against other risks that are insurable. This proposition is supported by Italian …

This paper considers the demand for insurance in a model with uncertain indemnity.
Uncertain indemnity tends to increase the demand for insurance for precautionary reasons …

The aim of this paper is to investigate the optimal insurance demand of a risk-averse agent
who is faced with background uncertainty. The preferences of the agent are represented by …

Abstract Economic Policy Uncertainty (EPU) is the level of uncertainty or unpredictability
arising from government policy on topics such as taxes, trade, monetary policy, and …