Braun, Alexander; Schmeiser, Hato; Rymaszewski, Przemysław - In: European Journal of Operational Research 242 (2015) 3, pp. 875-889
We contribute to the literature by developing a normative theory of the relationship between stock and mutual insurers based on a contingent claims framework. To consistently price policies provided by firms in these two legal forms of organization, we extend the work of Doherty and Garven...