Welfare consequences of persistent climate prediction errors on insurance markets against natural hazards
This paper studies the welfare consequences of the friction between two groups, those with and those without rational expectations, in an incomplete insurance market. We validate this friction empirically and test the existence of additional heterogeneity in the probability of belonging to the grou...
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| Main Authors: | , , |
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| Format: | article |
| Language: | EN PT |
| Published: |
Universidade de São Paulo
2019
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| Subjects: | |
| Online Access: | https://doaj.org/article/adb707f9857541d88f29b897c7c5401e |
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