Luciano, elisa - Volkswirtschaftliche Fakultät, … - 1999
deductibles, may start a vicoius circle, ad infinitum. This paper rules out the possibility of a vicious circle, in a model à la …, increases in loadings are not necessarily followed by increases in deductibles, since in equilibrium insurance may be Giffen …. Third, loadings do not increase with deductibles, because the only viable equilibrium is a Stackelberg one. …