Technology risk arises when the effectiveness of self‐insurance and self‐protection activities
depends on exogenous factors or is only imperfectly known. It affects optimal behavior via a …

We study optimal insurance demand for a risk-and ambiguity-averse consumer under
ambiguity about contract nonperformance. Ambiguity aversion lowers optimal insurance …

We provide a comprehensive analysis of the impact of probability weighting on optimal
insurance demand in a unified framework. We identify decreasing relative overweighting as …

An important societal problem is that people underinsure against risks that are unlikely or
occur in the far future, such as natural disasters and long-term care needs. One explanation …

The aim of this paper is to investigate customer preferences for certain company
characteristics when purchasing life insurance products. We focus on ratings provided by …

We investigate whether individuals correctly assess the risk of default of annuity providers
and incorporate this information into their decision‐making when purchasing an annuity. To …

Motivated by recent experiences in economies adopting the defined‐contribution pension
system, we study public annuities in the presence of survival probability heterogeneity. It is …

We investigate whether individuals correctly assess the risk of default of annuity providers
and incorporate this information into their decision-making when purchasing an annuity. To …

We analyze individual annuitization decisions at retirement in an environment with
mandatory participation in a funded pension pillar and low average annuity price. Using …

Abstract Typical Variable Annuity products combine complex baseline contracts at
substantial fees with optional guarantees. We argue this product design aligns with the …