We study an optimal portfolio and consumption choice problem of family that combines life insurance of parents who receive deterministic labor income until fixed time horizon T . We consider utility functions of parents and children separately and assumed that parents have uncertain lifetime. If parents die before T , children have no income and they choose the optimal consumption and portfolio...

In this paper, we examine whether frictions created by differences in firm boundaries affect the speed with which firms adopt new Information Technology. Using a rich dataset on organizational characteristics and Internet investment by over 100 firms in the insurance industry, we show that vertical integration in distribution has a significant impact on the speed with which insurers adopt consu...

The enactment of comprehensive health reform will bring about important changes to the health insurance and health care delivery systems. Community health centers will play a role in implementing many health reform provisions and in providing access to care for millions of Americans who will gain health insurance coverage under the law. To meet this new demand for services, particularly in unde...

Global climate change presents a classic problem of decision making under uncertainty with learning. We provide stochastic dominance theorems that provide new insights into when abatement and investment into low carbon technology should increase in risk. We show that R&D into low-carbon technologies and near-term abatement are in some sense opposites in terms of risk. Abatement provides insuran...

In this paper the strong relationship between foreign investment and economic growth. Larger inflows of investments are needed for country to achieve a sustainable high trajectory A major role played by insurance sector is mobilize national savings channelize them into in different sectors economy. FDI would increase penetration India; can meet India’s long term capital requirements fund buildi...

This chapter focuses on institutional investors in the German financial markets. Institutional investors are specialized financial intermediaries who collect and manage funds on behalf of small investors toward specific objectives in terms of risk, return and maturity. The major types of institutional investors in Germany are insurance companies and investment funds. We will examine the nature ...