Recent events involving major insurance companies and insurance brokerage firms highlight substantial incentive problems in commercial and reinsurance markets where intermediation takes place. We show that in markets with informed as well as uninformed consumers and heterogeneous risk profiles...

This paper looks at markets characterized by the fact that the demand side is insured. In these markets a consumer purchases a good to compensate consequen¬ces of unfavorable events, such as an accident or an illness. Insurance policies in most lines of insurance base indemnity on the...

The aim of this paper is to explain consulting failure from a systems-theoretical perspective and to provide a new framework for analysing consultant–client relationships. By drawing on Luhmann’s systems theory, clients and consultants are conceptualised as two autopoietic communication...