《经济类课件汇集》教学资源（PPT讲稿，英文版）Chapter twelve Uncertainty

State-Contingent Budget Constraints Without insurance, C=m-L a CE m na

State-Contingent Budget Constraints Without insurance, Ca = m - L Cna = m

State-Contingent Budget Constraints The endowment bundle m-L

State-Contingent Budget Constraints Cna Ca m The endowment bundle. m − L

State-Contingent Budget Constraints Buy $K of accident insurance Cna = m-yK Ca=m-L-yK+K=m-L+(1-y) K

State-Contingent Budget Constraints Buy $K of accident insurance. Cna = m - K. Ca = m - L - K + K = m - L + (1- )K

State-Contingent Budget Constraints Buy $K of accident insurance Cna = m-yK Ca=m-L-yK+K=m-L+(1-y) K So K=(Ca-m+L)(1-y)

State-Contingent Budget Constraints Buy $K of accident insurance. Cna = m - K. Ca = m - L - K + K = m - L + (1- )K. So K = (Ca - m + L)/(1- )

State-Contingent Budget Constraints Buy $K of accident insurance Cna = m-yK Ca=m4L-yK+K=m-L+(1-Y) K SoK(Ca-m+L)(1-Y And Cna =m-y(ca-m+ L/(1-y)

State-Contingent Budget Constraints Buy $K of accident insurance. Cna = m - K. Ca = m - L - K + K = m - L + (1- )K. So K = (Ca - m + L)/(1- ) And Cna = m -  (Ca - m + L)/(1- )