This paper presents a framework‐based systematic review of existing research to
understand the purchase behaviour of consumers for life insurance products. The TCM …

Agricultural pollution frequently is addressed through economic incentives for adopting
alternative management practices. Designing efficient incentives requires understanding …

Recent applications have demonstrated the crucial role of decreasing absolute ambiguity
aversion in financial and saving decisions. Yet, most ambiguity models predict that …

We estimate the effect of household wealth on the demand for life insurance using survey
data from a broad cross-section of the USA. This procedure allows us to test the Pratt-Arrow …

Real option theory suggests that individual migration may be delayed beyond the
Marshallian trigger since the option value to waiting may be sufficiently positive in the face of …

One crucial decision made at retirement in Chile is whether to acquire an annuity or a
phased withdrawal (PW) scheme. Annuities, unlike PW, do not allow for inheritance and …

It is widely understood that risk-averse individuals prefer a guarantee to an uncertain
income, and that prudent individuals take precautions w with risk. Indeed, shortly after Pratt …

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A probability threshold determines whether the demand for safety is normal or inferior for a
fixed loss severity (Sweeney and Beard, 1992). The size of this threshold is unknown. We …

This paper empirically assesses how financial risk aversion reacts to a change in
individuals' wealth and health and to the presence of both financial and health risks using …