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Nitpicky insurers and the law of contracts
Bourgeon, Jean-Marc; Picard, Pierre M. - 2017
that hardly explains the many features of an insurance contract. We extend this setup to include the situation that the … show how the law of insurance contracts should allow insurers to incentivize policyholders to exert an adequate level of …
Persistent link: https://www.econbiz.de/10011723471
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The nature of risk preferences : evidence from insurance choices
Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; … - 2012
We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates "standard … important role in explaining the aversion to risk manifested in deductible choices. This finding is robust to allowing for …
Persistent link: https://www.econbiz.de/10009621724
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Insurance contracts and securitization
Doherty, Neil A.; Schlesinger, Harris - 2001
High correlations between risks can increase required insurer capital and/orreduce the availability of insurance. For … such insurance lines, securitizationis rapidly emerging as an alternative form of risk transfer. The ultimatesuccess of … to facilitateand/or be facilitated by insurance contracts. We consider how insuredlosses might be decomposed into …
Persistent link: https://www.econbiz.de/10011400246
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Does cost sharing really reduce inappropriate prescriptions?
Costa-Font, Joan; Gemmill-Toyama, Marin - 2010
This paper explores different empirical strategies to examine the effect of cost sharing for prescription drugs in some dimensions of medication-related quality, namely the probability of inappropriate prescription drug use among United States seniors. Using data from 1996 to 2005, we explore...
Persistent link: https://www.econbiz.de/10003951612
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Concerns for equity and the optimal co-payments for publicly provided health care
Hoel, Michael (contributor) - 2005
In countries where health care is publicly provided and where equity considerations play an important role in policy decisions, it is often argued that an increase in co-payments is unacceptable as it will be particularly harmful to the less well-off in society. The present paper derives...
Persistent link: https://www.econbiz.de/10003297601
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Do cost-sharing and entry deregulation curb pharmaceutical Innovation?
Grossmann, Volker - 2011
This paper examines the role of both cost-sharing schemes in health insurance systems and entry regulation for … productivity ; cost-sharing ; entry deregulation ; health insurance ; pharmaceutical innovation …
Persistent link: https://www.econbiz.de/10009124148
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Fairness, incentives and contractual incompleteness
Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - 2001
We show that concerns for fairness may have dramatic consequences for the optimal provision of incentives in a moral hazard context. Incentive contracts that are optimal when there are only selfish actors become inferior when some agents are concerned about fairness. Conversely, contracts that...
Persistent link: https://www.econbiz.de/10011398105
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Public policy for venture capital
Keuschnigg, Christian; Nielsen, Søren Bo - 2001
This paper proposes a simple partial equilibrium model to investigate the effects of government policy on venture capital backed investments. Giving up an alternative career, entrepreneurs focus their effort on a single, high risk venture each. Venture capitalists acquire an equity stake and...
Persistent link: https://www.econbiz.de/10011398877
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Monitoring, cross subsidies, and universal banking
Choi, Jay Pil; Stefanadis, Christodoulos - 2015
We formalize the idea that a financial conglomerate may utilize commercial banking activities to cross-subsidize investment banking through bundled offers. The investment banking sector entails supra-normal profits due to incentive problems with security underwriting. Universal banks may aim to...
Persistent link: https://www.econbiz.de/10011342362
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Employee referral, social proximity and worker discipline : theory and evidence from India
Dhillon, Amrita; Iversen, Vegard; Torsvik, Gaute - 2013
We study an important mechanism underlying employee referrals into informal low skilled jobs in developing countries. Employers can exploit social preferences between employee referees and potential workers to improve discipline. The profitability of using referrals increases with referee stakes...
Persistent link: https://www.econbiz.de/10009765001