Narrow search
Showing 1 - 10 of 12,627
Cover Image
Harmful competition in insurance markets
De Feo, Giuseppe; Hindriks, Jean - In: Journal of Economic Behavior & Organization 106 (2014) C, pp. 213-226
insurance markets can be bad and that adverse selection is in general worse under competition than under monopoly. The reason is … that monopoly can exploit its market power to relax incentive constraints by cross-subsidization between different risk … monopoly is shown to provide better coverage to those buying insurance but at the cost of limiting participation to insurance …
Persistent link: https://www.econbiz.de/10010930934
Cover Image
Risk Classification and Health Insurance
Dionne, Georges; Rothschild, Casey G. - Centre Interuniversitaire sur le Risque, les Politiques … - 2012
Risk classification refers to the use of observable characteristics by insurers to group individuals with similar expected claims, compute the corresponding premiums, and thereby reduce asymmetric information. With perfect risk classification, premiums fully reflect the expected cost associated...
Persistent link: https://www.econbiz.de/10010693198
Cover Image
Asymmetric Learning in Repeated Contracting: An Empirical Study
Cohen, Alma - In: The Review of Economics and Statistics 94 (2012) 2, pp. 419-432
This paper uses a unique panel data set of an insurer's transactions with repeat customers. Consistent with the asymmetric learning hypothesis that repeated contracting enables sellers to obtain an informational advantage over their rivals, I find that the insurer makes higher profits in...
Persistent link: https://www.econbiz.de/10011010011
Cover Image
Beyond Testing: Empirical Models of Insurance Markets
Einav, Liran; Finkelstein, Amy; Levin, Jonathan - In: Annual Review of Economics 2 (2010) 1, pp. 311-336
We describe recent advances in the empirical analysis of insurance markets. This new research proposes ways to estimate individual demand for insurance and the relationship between prices and insurer costs in the presence of adverse and advantageous selection. We discuss how these models permit...
Persistent link: https://www.econbiz.de/10009226016
Cover Image
ASYMMETRIC INFORMATION IN INSURANCE FIELD: SOME GENERAL CONSIDERATIONS
Matis, Ciprian; Matis, Eugenia - In: Annales Universitatis Apulensis Series Oeconomica 1 (2013) 15, pp. 17-17
Our review aims to assess theoretical and empirical studies concerning the existence,magnitude and threats of information asymmetry in insurance field. Based on the fact that most ofthe papers examined approached both static and dynamic frameworks, a particular emphasis is puton the testable...
Persistent link: https://www.econbiz.de/10010680415
Cover Image
Complementarity and Substituability in Multiple-Risk Insurance Markets
Koehl, Pierre-François; Villeneuve, Bertrand - Université Paris-Dauphine (Paris IX) - 2001
We study imperfect competition between insurers in a multiple-risk environment. In the absence of asymmetric information, equilibria are efficient, and we determine the degrees of specialization under which the specialized insurers are able or unable to capture the surplus. We show in contrast...
Persistent link: https://www.econbiz.de/10010707228
Cover Image
Complementarity and Substituability in Multiple-Risk Insurance Markets.
Koehl, Pierre-François; Villeneuve, Bertrand - Université Paris-Dauphine - 2001
We study imperfect competition between insurers in a multiple-risk environment. In the absence of asymmetric information, equilibria are efficient, and we determine the degrees of specialization under which the specialized insurers are able or unable to capture the surplus. We show in contrast...
Persistent link: https://www.econbiz.de/10008773599
Cover Image
Price screening with network effects and entry deterrence
Sundararajan, Arun - Econometric Society - 2004
This paper presents a model of price screening for goods with network effects, by a monopoly seller, and by an entry …
Persistent link: https://www.econbiz.de/10005702636
Cover Image
Quality Uncertainty with Imperfect Information Acquisition
Gertz, Christopher - Institut für Mathematische Wirtschaftsforschung, … - 2014
We analyze a monopolistic model of quality uncertainty but with the possibility of information acquisition on the consumer side. Information is costly and its amount is chosen by the consumer. The analysis of Bayesian equilibria shows the possibility of three equilibrium classes, only one of...
Persistent link: https://www.econbiz.de/10011098635
Cover Image
A Model of Quality Uncertainty with a Continuum of Quality Levels
Gertz, Christopher - Institut für Mathematische Wirtschaftsforschung, … - 2014
This work takes a closer look on the predominant assumption in usual lemon market models of having finitely many or even only two different levels of quality. We model a situation which is close to the classical monopolistic setting but admits an interval of possible quality values....
Persistent link: https://www.econbiz.de/10010897073