Similar Search Results

On the role of patience in an insurance market with asymmetric information

Sonnenholzner, Michael; Wambach, Achim - Center for Financial Studies - 2006

We analyse a 2-period competitive insurance market which is characterized by the simultaneous presence of standard … which patient consumers use high effort and buy a profit-making insurance contract with high coverage, whereas impatient …

Persistent link: https://www.econbiz.de/10010958723

The dynamics of venture capital contracts

Bienz, Carsten; Hirsch, Julia - Center for Financial Studies - 2005

We analyze the degree of contract completeness with respect to staging of venture capital investments using a hand-collected German data set of contract data from 464 rounds into 290 entrepreneurial firms. We distinguish three forms of staging (pure milestone financing, pure round financing and...

Persistent link: https://www.econbiz.de/10010986443

Public policy and venture capital financed innovation: A contract design approach

Hirsch, Julia - Center for Financial Studies - 2006

The effects of public policy programs which aim at internalizing spill-overs due to successful innovation are analyzed in a sequential double-sided moral hazard doublesided adverse selection framework. The central focus lies in analyzing their impact on contract design. We show that in our...

Persistent link: https://www.econbiz.de/10010958733

Public Policy and Venture Capital Financed Innovation: A Contract Design Approach

Hirsch, Julia - Center for Financial Studies - 2006

Persistent link: https://www.econbiz.de/10005120780

The Dynamics of Venture Capital Contracts

Bienz, Carsten; Hirsch, Julia - Center for Financial Studies - 2006

Persistent link: https://www.econbiz.de/10005120787

Institutional investors in Germany : insurance companies and investment funds

Maurer, Raimond (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001815192

Betting on death and capital markets in retirement: A shortfall risk analysis of life annuities versus phased withdrawal plans

Dus, Ivica; Maurer, Raimond H.; Mitchell, Olivia S. - Center for Financial Studies - 2004

How might retirees consider deploying the retirement assets accumulated in a defined contribution pension plan? One possibility would be to purchase an immediate annuity. Another approach, called the phased withdrawal strategy in the literature, would have the retiree invest his funds and then...

Persistent link: https://www.econbiz.de/10010986362

Hidden regret in insurance markets: Adverse and advantageous selection

Huang, Rachel J.; Muermann, Alexander; Tzeng, Larry Y. - Center for Financial Studies - 2008

We examine insurance markets with two types of customers: those who regret suboptimal decisions and those who don.t. In … positive correlation between the amount of insurance coverage and risk type, as in the standard economic models of adverse … selection, but there also exist separating equilibria that predict a negative correlation between the amount of insurance …

Persistent link: https://www.econbiz.de/10010986404

Self-protection and insurance with interdependencies

Kunreuther, Howard; Muermann, Alexander - Center for Financial Studies - 2007

in self-protection implies that, in equilibrium, individuals underinvest in self-protection. Limiting insurance coverage … through deductibles or selling at-fault insurance can partially internalize this externality and thereby improve individual …

Persistent link: https://www.econbiz.de/10010986430

Money in motion: Dynamic portfolio choice in retirement

Horneff, Wolfram J.; Maurer, Raimond H.; Mitchell, Olivia S. - Center for Financial Studies - 2007

equity premium and longevity insurance in her retirement portfolio. Even without bequests, she will not fully annuitize …

Persistent link: https://www.econbiz.de/10010958527