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Deductible or co-insurance: Which is the better insurance contract under adverse selection?

Breuer, Michael - 2004

form of an insurance contract to impose partial insurance of the low risks. This paper contributes to the discussion on … optimal insurance. It analyzes two basic forms of insurance contracts: A contract with a deductible and a contract imposing a … positive co-insurance rate. Since high risks can always self-reveal themselves as high risks and buy the optimal insurance …

Persistent link: https://www.econbiz.de/10010315526

Tax incentives for private life annuities and the social security reform: Effects on consumption and on adverse selection

Pech, Susanne - 2002

In this paper we analyse several measures which are typically included in a social security reform: a cut in the social security benefits, an increase in the social security tax and tax incentives for the purchase of private life annuities, which have recently become quite popular at the...

Persistent link: https://www.econbiz.de/10010294515

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/10010294532

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

Brunner, Johann K.; Pech, Susanne - 2000

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/10010294584

Adverse Selection with individual- and joint-life annuities

Pech, Susanne - 2004

This paper includes couples on the demand side and analyses their implications on the problem of adverse selection in the annuity market. First, we examine the pooling equilibrium for individual-life annuities and show that in the presence of couples the rate of return on individuallife...

Persistent link: https://www.econbiz.de/10010294618

Misallocation of talent in competitive labor markets

Ferreira, Daniel; Nikolowa, Radoslawa - 2015

We develop a model in which competition in the labor market may produce worker-firm matches that are inferior to those obtained in the absence of competition. This result contrasts with the conventional wisdom that competition among employers allocates scarce talent efficiently. In a model in...

Persistent link: https://www.econbiz.de/10011380985

A Dynamic Model of Contractual Choice in Tenancy

Chaudhuri, Ananish - 1997

Two issues in land tenure contracts in agriculture that have vexed economists are (1) the appearance and co-existence of multiple contracts, often in adjoining plots of land and (2) the choice of a share-cropping contract because a share contract being analogous to a proportional tax, is...

Persistent link: https://www.econbiz.de/10010334325

Termination fees and contract design in public-private partnerships

Buso, Marco; Dosi, Cesare; Moretto, Michele - 2018

We study the effects of granting an exit option that enables the private party to early terminate a PPP project if it turns out to be loss-making. In a continuous time setting with hidden information about stochastic operating profits, we show that a revenue-maximizing government can optimally...

Persistent link: https://www.econbiz.de/10011957024

Adverse selection, risk sharing and business cycles

Veracierto, Marcelo - 2014

I consider a real business cycle model in which agents have private information about an idiosyncratic shock to their value of leisure. I consider the mechanism design problem for this economy and describe a computational method to solve it. This is an important contribution of the paper since...

Persistent link: https://www.econbiz.de/10011460676

Do Exit Options Increase the Value-For-Money of Public-Private Partnerships?

Buso, Marco; Dosi, Cesare; Moretto, Michele - 2020

We study the effects of granting an exit option that enables the private party to early terminate a PPP project if it turns out to be financially loss-making. In a continuous-time setting with hidden information about operating profits, we show that an exit option, acting as a risk-sharing...

Persistent link: https://www.econbiz.de/10012269866

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