{"record_type":"pith_number_record","schema_url":"https://pith.science/schemas/pith-number/v1.json","pith_number":"pith:2015:BADLZK6OOHMUP33JRUPET4TGRZ","short_pith_number":"pith:BADLZK6O","schema_version":"1.0","canonical_sha256":"0806bcabce71d947ef698d1e49f2668e6b0cce3179baaec77dc47b520af5b3cc","source":{"kind":"arxiv","id":"1507.04655","version":2},"attestation_state":"computed","paper":{"title":"Insurance makes wealth grow faster","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","headline":"","cross_cats":["q-fin.EC"],"primary_cat":"q-fin.RM","authors_text":"Alexander Adamou, Ole Peters","submitted_at":"2015-07-16T17:06:40Z","abstract_excerpt":"Voluntary insurance contracts constitute a puzzle because they increase the expectation value of one party's wealth, whereas both parties must sign for such contracts to exist. Classically, the puzzle is resolved by introducing non-linear utility functions, which encode asymmetric risk preferences; or by assuming the parties have asymmetric information. Here we show the puzzle goes away if contracts are evaluated by their effect on the time-average growth rate of wealth. Our solution assumes only knowledge of wealth dynamics. Time averages and expectation values differ because wealth changes a"},"verification_status":{"content_addressed":true,"pith_receipt":true,"author_attested":false,"weak_author_claims":0,"strong_author_claims":0,"externally_anchored":false,"storage_verified":false,"citation_signatures":0,"replication_records":0,"graph_snapshot":true,"references_resolved":false,"formal_links_present":false},"canonical_record":{"source":{"id":"1507.04655","kind":"arxiv","version":2},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.RM","submitted_at":"2015-07-16T17:06:40Z","cross_cats_sorted":["q-fin.EC"],"title_canon_sha256":"dda31e274be047ade3af9f73f30109835a25091322a716e8e36158279e41068d","abstract_canon_sha256":"3aff248259b99171d863ebc673e20064cbb39a54f4af7f1ba400425421edbd82"},"schema_version":"1.0"},"receipt":{"kind":"pith_receipt","key_id":"pith-v1-2026-05","algorithm":"ed25519","signed_at":"2026-05-18T00:40:24.511401Z","signature_b64":"kJeFb1jCMsMk1K3STjqLIvQS9Ljc3EjEqzoQL5xrGnprWDhL/Z53tTxXFEIWNw7SJVjJFnOW6OuScGkTxwpJCw==","signed_message":"canonical_sha256_bytes","builder_version":"pith-number-builder-2026-05-17-v1","receipt_version":"0.3","canonical_sha256":"0806bcabce71d947ef698d1e49f2668e6b0cce3179baaec77dc47b520af5b3cc","last_reissued_at":"2026-05-18T00:40:24.510810Z","signature_status":"signed_v1","first_computed_at":"2026-05-18T00:40:24.510810Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"graph_snapshot":{"paper":{"title":"Insurance makes wealth grow faster","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","headline":"","cross_cats":["q-fin.EC"],"primary_cat":"q-fin.RM","authors_text":"Alexander Adamou, Ole Peters","submitted_at":"2015-07-16T17:06:40Z","abstract_excerpt":"Voluntary insurance contracts constitute a puzzle because they increase the expectation value of one party's wealth, whereas both parties must sign for such contracts to exist. Classically, the puzzle is resolved by introducing non-linear utility functions, which encode asymmetric risk preferences; or by assuming the parties have asymmetric information. Here we show the puzzle goes away if contracts are evaluated by their effect on the time-average growth rate of wealth. Our solution assumes only knowledge of wealth dynamics. Time averages and expectation values differ because wealth changes a"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1507.04655","kind":"arxiv","version":2},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"},"aliases":[{"alias_kind":"arxiv","alias_value":"1507.04655","created_at":"2026-05-18T00:40:24.510911+00:00"},{"alias_kind":"arxiv_version","alias_value":"1507.04655v2","created_at":"2026-05-18T00:40:24.510911+00:00"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1507.04655","created_at":"2026-05-18T00:40:24.510911+00:00"},{"alias_kind":"pith_short_12","alias_value":"BADLZK6OOHMU","created_at":"2026-05-18T12:29:14.074870+00:00"},{"alias_kind":"pith_short_16","alias_value":"BADLZK6OOHMUP33J","created_at":"2026-05-18T12:29:14.074870+00:00"},{"alias_kind":"pith_short_8","alias_value":"BADLZK6O","created_at":"2026-05-18T12:29:14.074870+00:00"}],"events":[],"event_summary":{},"paper_claims":[],"inbound_citations":{"count":0,"internal_anchor_count":0,"sample":[]},"formal_canon":{"evidence_count":0,"sample":[],"anchors":[]},"links":{"html":"https://pith.science/pith/BADLZK6OOHMUP33JRUPET4TGRZ","json":"https://pith.science/pith/BADLZK6OOHMUP33JRUPET4TGRZ.json","graph_json":"https://pith.science/api/pith-number/BADLZK6OOHMUP33JRUPET4TGRZ/graph.json","events_json":"https://pith.science/api/pith-number/BADLZK6OOHMUP33JRUPET4TGRZ/events.json","paper":"https://pith.science/paper/BADLZK6O"},"agent_actions":{"view_html":"https://pith.science/pith/BADLZK6OOHMUP33JRUPET4TGRZ","download_json":"https://pith.science/pith/BADLZK6OOHMUP33JRUPET4TGRZ.json","view_paper":"https://pith.science/paper/BADLZK6O","resolve_alias":"https://pith.science/api/pith-number/resolve?arxiv=1507.04655&json=true","fetch_graph":"https://pith.science/api/pith-number/BADLZK6OOHMUP33JRUPET4TGRZ/graph.json","fetch_events":"https://pith.science/api/pith-number/BADLZK6OOHMUP33JRUPET4TGRZ/events.json","actions":{"anchor_timestamp":"https://pith.science/pith/BADLZK6OOHMUP33JRUPET4TGRZ/action/timestamp_anchor","attest_storage":"https://pith.science/pith/BADLZK6OOHMUP33JRUPET4TGRZ/action/storage_attestation","attest_author":"https://pith.science/pith/BADLZK6OOHMUP33JRUPET4TGRZ/action/author_attestation","sign_citation":"https://pith.science/pith/BADLZK6OOHMUP33JRUPET4TGRZ/action/citation_signature","submit_replication":"https://pith.science/pith/BADLZK6OOHMUP33JRUPET4TGRZ/action/replication_record"}},"created_at":"2026-05-18T00:40:24.510911+00:00","updated_at":"2026-05-18T00:40:24.510911+00:00"}