We analyze the optimal coverage level for an unreliable insurance contract if a utility-maximizing policyholder can transfer intrinsic nonperformance risk to several co-insurers. Our discussion starts with demand model under default and introduction of multiple risk-sharing instrument called co-insurance policy. Subsequently, we examine interrelation between recovery rate level, utility policyh...

The first x-ray machines were large, loud, sparking, smelly, and ostentatious devices, prone to mishap and injury even when fully under the control of the physicians who, in droves, invested money and prestige in them. Their bizarre and sometimes overwhelming presentation in the clinic reinforced the contemporary public understanding of x-rays as fantastically potent yet ambiguously helpful. As...

The discovery by Luc Montagnier and Robert C. Gallo of a novel human retrovirus, and Gallo’s demonstration that this virus was the cause of AIDS, were the first major milestones in our efforts to understand, prevent, and treat the disease. surfaced. Though heroic measures were often utilized to try to treat these patients, they generally died within several months. It was not known how many peo...

Criticism of J.K. Rowling’s Harry Potter series has maintained that its popularity stems from a well-marketed, repetitive and simple structure. However, this essay considers that this success derives from recognizable mythological heroic structures. The essay traces the protagonist’s development from the perspective of two different theories that contrast and complement each other in various wa...