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Adverse selection in the annuity market with sequential and simultaneous insurance demand

Brunner, Johann K.; Pech, Susanne - 2002

retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement …

Persistent link: https://www.econbiz.de/10011541030

Adverse selection in the annuity market when payoffs vary over the time of retirement

Brunner, Johann K.; Pech, Susanne - 2001

This paper investigates the effect of adverse selection and price competition on the private annuity market in a model with two retirement periods. In this framework annuity companies can offer contracts with different payoffs over the periods of retirement. Varying the time structure of the...

Persistent link: https://www.econbiz.de/10011397919

Adverse selection vs discrimination risk with genetic testing : an experimental approach

Bardey, David; De Donder, Philippe; Mantilla, Cesar - 2014

We develop a theoretical analysis of two widely used regulations of genetic tests, disclosure duty and consent law, and we run several experiments in order to shed light on both the take-up rate of genetic testing and on the comparison of policyholders' welfare under the two regulations....

Persistent link: https://www.econbiz.de/10010433974

Funded and unfunded pension schemes : risk, return and welfare

Miles, David - 2000

This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on fun ded pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between funded and unfunded systems when there are sources of...

Persistent link: https://www.econbiz.de/10009781509

Diagnostic uncertainty and insurance coverage in credence goods markets

Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2020

uncertainty decreases the rate of efficient service provision and leads to less trade. In theory, insurance also decreases the … that considers both diagnostic uncertainty of sellers and the effects of insurance coverage of consumers in a unified … framework. We test the model’s predictions in a laboratory experiment. Both in theory and in the experiment diagnostic …

Persistent link: https://www.econbiz.de/10012312079

Non-cooperative and cooperative policy reforms under uncertainty and spillovers

Hefeker, Carsten; Neugart, Michael - 2017

When countries need to implement costly economic policy reforms, these often imply uncertainties about their effectiveness for the home country and their spillovers to other countries. We develop a model to show that under these circumstances countries implement too few or too many policy...

Persistent link: https://www.econbiz.de/10011602603

Guaranteed renewable life insurance under demand uncertainty

Hoy, Michael; Mirza, Afrasiab; Sadanand, Asha B. - 2018

Guaranteed renewability is a prominent feature in many health and life insurance markets. It is well established in the … fair price for low risk types provides full insurance against reclassification risk. We develop a model that includes … unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over …

Persistent link: https://www.econbiz.de/10011864322

Pooling, pricing and trading of risks

Flåm, Sjur D. - 2002

Exchange of risks is considered here as a transferable-utility cooperative game. When the concerned agents are risk averse, there is a core imputation given by means of shadow prices on state-dependent claims. Like in finance, a risk can hardly be evaluated merely by its inherent statistical...

Persistent link: https://www.econbiz.de/10011409137

Risk, return and portfolio allocation under alternative pension arrangements with imperfect financial markets

Miles, David; Černý, Aleš - 2001

This paper uses stochastic simulations on calibrated models to assess the steady state impact of different pension arrangements in an environment where financial markets are less than perfect. Surprisingly little is known about the optimal split between funded and unfunded systems when there are...

Persistent link: https://www.econbiz.de/10011398101

Life insurance, precautionary saving and contingent bequest

Chang, Fwu-ranq - 2001

Purchasing life insurance is for the welfare of young children, par-ticularly preteens, who are liquidity constrained …. In this paper, we present a life cycle model of life insurance that takes into account the ages of these young … may shrink. The demand for life insurance is positively related to the number, age differentials, living standards, and …

Persistent link: https://www.econbiz.de/10011398104

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