WP 2019

WP 2019_02 Behavioral Insurance and Economic Theory: A Literature Review

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Forthcoming in Risk Management & Insurance Review.

ABSTRACT: Decisions to purchase insurance should be a perfect place to see economic theory at work in general, and behavioral economics at work in particular. We have well-developed theories of the demand for, and welfare evaluation of, insurance products. These theories extend relatively… more »

WP 2019-01 Statistical Power and the Individual Level Estimation of Risk Preferences

Posted On March 26, 2019
Categories Working Papers, WP 2019

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ABSTRACT: Accurately estimating risk preferences is of critical importance when evaluating data from many economic experiments or behavioral interactions. I conduct power analyses over two lottery batteries designed to classify individual subjects as one of a number of alternative specifications of risk preference models. I propose a conservative case in which… more »