We discuss the existence of a pooling equilibrium in a two-period model of an insurance market with asymmetric information. We solve the model numerically. We pay particular attention to the reasons for non-existence in cases where no pooling equilibrium exists. In addition to the phenom- enon...

India's insurance sector has been growing dynamically in the last couple of years. Despite the suite of reforms that have been implemented to stoke the sector's growth, it still has a long way to go, as its share in the global insurance market remains abysmally low. In this paper, we analyse the...

Global diversification of financial institutions, including the insurance sector, has proven beneficial to many economies by providing them with increasing capital flow, higher competition, and introduction of newer technologies and distribution channels. This paper aims to critically evaluate...

In this paper, we try to cover a whole range of polices and schemes that have been undertaken in Indiato finance disaster risk resilience (DRR). This paper tries to emphasise the importance of DRR in dealing with natural catastrophesby integrating DRR and climate change adaptation strategies for...

Lund (2002a) showed in a CAPM-type model how tax depreciation schedules affect required expected returns after taxes. Even without leverage higher tax rates implied lower betas when tax deductions were risk free. Here they are risky, and marginal investment is taxed together with inframarginal...

Levy and Arditti (1973) introduced depreciable assets into the Modigliani and Miller (1958) model, and analyzed the implications for the cost of capital. Assuming that the firm reinvests indefinitely to maintain a constant expected cash flow, they found that depreciation increases the cost of...