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Insurance and protection of irreplaceable commodities: The case of one's own life |
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| Authors: | Kostas Gr Mavromaras |
| Institution: | University of York, Heslington, York Y01 5DD, England |
| Abstract: | This paper deals with the effect of life insurance upon the individual's ‘value of life’. In a single period framework we analyse the factors which determine whether life insurance and safety will be treated as substitutes or complements. |
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