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econ.GN2025
When Indemnity Insurance Fails: Parametric Coverage under Binding Budget and Risk Constraints
Benjamin Avanzi, Debbie Kusch Falden, Mogens Steffensen
In high-risk environments, traditional indemnity insurance is often unaffordable or ineffective, despite its well-known optimality under expected utility. We compare excess-of-loss…
econ.GN2023
Optimal Strategies for the Decumulation of Retirement Savings under Differing Appetites for Liquidity and Investment Risks
Benjamin Avanzi, Lewis de Felice
A retiree's appetite for risk is a common input into the lifetime utility models that are traditionally used to find optimal strategies for the decumulation of retirement savings.…