One unusual feature of the U.S. property-casualty insurance industry is the coexistence of stock and mutual companies … insurance companies respond to differences in their underwriting environment. Agency theories suggest that the stock company may …' performance, by state and by line, in eight different lines of insurance. Stock companies are more likely than mutuals to reduce …

Care Act (ACA)'s Health Insurance Marketplaces. The RC program, which was defunded ahead of coverage year 2016, and ended … defunding, had greater premium increases in 2017, after the program ended. Insurance markets in which more insurers made RC …

of health insurance. We show that any innovation worth buying reduces overall risk, thereby generating positive insurance …Economists think of medical innovation as a valuable but risky good, producing health benefits but increasing financial … risk. This perspective overlooks how innovation can lower physical risks borne by healthy patients facing the prospect of …

We study why high-priced acquisitions of entrants by an incumbent do not necessarily stimulate more innovation and …

top 1%. In this paper we argue that the growing importance of digital innovation - new products and processes based on … Schumpeter's vision, digital innovation gives rise to "winner-take-all" market structures, characterized by higher market power … digital non-rivalry, which allows for massive economies of scale and reduces costs of innovation. The latter stimulates higher …

positive relation between self-insurance and state taxes is detected, consistent with consumers opting to self-insure rather … demand is largely inelastic, e.g., automobile liability coverage, taxes do not affect self-insurance …

Theoretically, wealthier people should buy less insurance, and should self-insure through saving instead, as insurance … wealthier have better life and property insurance coverage. Wealth-related differences in background risk, legal risk, liquidity … constraints, financial literacy, and pricing explain only a small fraction of the positive wealth-insurance correlation. This …