beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical … contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …

insurance markets can be bad and that adverse selection is in general worse under competition than under monopoly. The reason is … monopoly is shown to provide better coverage to those buying insurance but at the cost of limiting participation to insurance …

Does asymmetric information matter in insurance markets? Recent evidence on the automobile insurance market suggests … bonus-malus policies of the automobile insurance markets. I also simulate the model showing that under reasonable conditions …

We describe recent advances in the empirical analysis of insurance markets. This new research proposes ways to estimate … individual demand for insurance and the relationship between prices and insurer costs in the presence of adverse and advantageous …

Deposit insurance schemes are becoming increasingly popular around the world and yet there is little understanding of … deposit insurance. We analyse a model in which agents choose between depositing their funds with banks and placing them in a … providing deposit insurance to encourage deposits. Contrary to received opinion, we find that deposit insurance should be funded …

insurance is undesirable in the presence of private insurance markets. This paper elaborates on Kaplow's finding by studying two … extreme types of asymmetric information structures in private insurance markets: Either the insured or insurers possess … private insurance. …

, creating a tendency for advantageous selection in the associated insurance market. Taxing insurance consequently yields …

Purpose – The purpose of this paper is to examine the efficiency of current subsidized crop insurance products (SCIPs … with more risk should be more likely to buy crop insurance in pursuit of the benefits from SCIPs. Findings – However, both … insurance are discussed toward the end of the paper. Originality/value – This paper weaves together literature on traditional …