Barigozzi, Francesca; Bourlès, Renaud; Henriet, Dominique - HAL - 2011
non-cooperative strategies in the effort choice. Cooperation among policyholders leads to the full internalization of the … positive impact the effort exerts on the premium. We show that, for an infinite size of pool, with cooperation first …-best efficiency is achieved. Moreover, cooperation is sustained as an equilibrium in a repeated interaction game for a sufficiently …