I examine the design of optimal insurance contracts considering the possibility of
government disaster relief payments. This work focuses on the impact of (risky and …

We investigate the relationship between self-reported willingness to take financial risks and
ownership of life insurance and long-term care insurance. For a representative sample of …

The existing literature in insurance economics has shown that narrow framing can explain
why people buy too little insurance compared to what standard theory predicts. However …

This paper provides empirical evidence that loss aversion decreases insurance demand
and increases savings demand using individual-level data on the US elderly. Specifically …

In this paper, we study an optimal insurance design problem under mean-variance criterion
by considering the local gain-loss utility of the net payoff of insurance, namely, narrow …

This paper studies an optimal insurance contracting problem in which the preferences of the
decision maker are given by the sum of the expected loss and a convex, increasing function …

When determining the optimal deductible level for an insurance policy, a policyholder faces
two limitations. First, uncertainty arises from the randomness of future losses. Second, the …

In economic analysis, rational decision-makers often take actions to reduce their risk
exposure. These actions include purchasing market insurance and implementing prevention …

Insurance marketing is a discipline that maximizes the benefits between policyholders and
insurance companies. A big data‐driven approach combined with insurance promotions can …

Household Finance: An Introduction to Individual Financial Behavior speaks to both how
people should and how people actually do make financial decisions, and how these …