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Abstract
This paper analyzes the choice of deductible in insurance contracts that insure against a risk that, as is common, might materialize more than once during the life of the policy. As was established by Arrow (1963), from the perspective of risk-bearing costs, the optimal contract is one that uses an aggregate deductible that applies to the aggregate losses incurred over the life of the policy. Aggregate deductibles, however, are uncommon in practice. This paper identifies two disadvantages that aggregate deductibles have. Aggregate deductibles are shown to produce higher expected verification costs and moral hazard costs than contracts that apply a per-loss deductible to each loss that occurs. I further show that each of these disadvantages can make an aggregate deductible contact inferior to a contract with per loss deductibles. The results of the analysis can help explain the rare use of aggregate deductibles and, in addition, might explain why umbrella policies that cover all types of losses are rarely used.

An alternative framework to US sex-discrimination law proposes that gender issues be analyzed according to gender disadvantage rather than gender difference. Using examples from court rulings on occupational restrictions, protective labor, & maternity policy, it is suggested that a focus on context & consequence of gender discrimination will reorient issues of gender away from difference toward methods of changing the workplace. 66 References. L. Baker

Rurbanisation is new concept which has more importance in developing the rural areas with the assimilation of urban facilities. Rurbanisation can cater the needs of rural people with better facilities and infrastructure. It has it's advantages empowering the rural people with the facilities like electrification which has the major utility in Agricultural sector of rural areas. It also has some drawbacks as lack of political will, Delay in funds disbursement and geographical factors like topography makes it difficult for the implementation of Rurbanisation, mostly in North -East areas. Boda Ramesh "Rurbanization it's Advantages and Disadvantages" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-2 , February 2018, URL: https://www.ijtsrd.com/papers/ijtsrd9467.pdf

Does life in the city foster mistrust of others? This study tests four connected hypotheses about urban mistrust by comparing the City of Chicago to suburbs, small cities, towns, and rural areas. The Urban Mistrust Hypothesis is that urban residents are more mistrusting than residents of places outside the city. The Neighborhood Disadvantage Hypothesis is that mistrust increases with the prevalence of economic and social disadvantage in one's neighborhood, which accounts for some of the mistrust associated with urban residence. The Individual Disadvantage Hypothesis is that socioeconomically disadvantaged individuals are more mistrusting than others, which accounts for some of the mistrust associated with residence in Chicago and in disadvantaged neighborhoods. The Neighborhood Disorder Hypothesis is that mistrust correlates positively with observing signs of disorder in one's neighborhood such as graffiti, vandalism, run‐down or abandoned buildings, noise, crime, and people hanging out on the streets, drinking, or taking drugs; and disorder mediates some of the effects of residence in the city and in a disadvantaged neighborhood. Some, but not all, of the association between disorder and mistrust is mediated by criminal victimization. We examine these hypotheses using the Community, Crime and Health data, which is a 1995 survey of a representative sample of 2,482 Illinois residents linked to contextual data on their neighborhoods. We find results consistent with all four hypotheses. The mean level of mistrust reported by residents of Chicago is more than half a standard deviation above that of people living elsewhere. Most of the higher mistrust in Chicago can be attributed to three related things: neighborhood disadvantage, individual disadvantage, and neighborhood disorder; but even with adjustments for disadvantage and disorder, urban residents report more mistrust.

JEL Classification Codes: D7; H1.-- Trabajo presentado a: "XVIII Encuentro de Economía Pública" celebrado en Malaga en 2011; "PET 10 - Annual Conference of the Association for Public Economic Theory" celebrada en Estambul en 2010; "MOVE - Urrutia Elejalde Workshop on: Information, Dynamics, and Political Decision Making" celebrado en Barcelona en 2010. ; This paper analyzes the problem that an incumbent faces during the legislature when deciding how to react to popular initiatives or policy proposals coming from different sources. We argue that this potential source of electoral disadvantage that the incumbent obtains after being elected can jeopardize the reelection possibilities of the incumbent. We analyze the decision of the incumbent when facing reelection and we characterize the conditions under which the advantages that the incumbent obtains can overcome the disadvantages. Finally, we use the results of this analysis to discuss some implica- tions of the use of mechanisms of direct democracy like referenda and popular assemblies on electoral competition. ; Aragonès acknowledges financial support from the Spanish Ministry of Education and Science, grant number ECO2009-08820, the Barcelona GSE and the Catalan Government. We would like to thank Miguel Angel Ballester, Micael Castanheira, Luca Merlino, Norman Schofield, Jim Snyder, Joel Sobel, participants of the first APE-X meeting in Brussels and participants of the IAE's informal seminar for their useful comments. ; Peer reviewed

This paper analyzes the problem that an incumbent faces during the legislature when deciding how to react to popular initiatives or policy proposals coming from different sources. We argue that this potential source of electoral disadvantage that the incumbent obtains after being elected can jeopardize the reelection possibilities of the incumbent. We analyze the decision of the incumbent when facing reelection and we characterize the conditions under which the advantages that the incumbent obtains can overcome the disadvantages. Finally, we use the results of this analysis to discuss some implications of the use of mechanisms of direct democracy like referenda and popular assemblies on electoral competition.