This paper uses longitudinal data to perform tests of asymmetric information in the French automobile insurance market for the 1995-1997 period.This market is characterized by the presence of a regulated experience-rating scheme (bonusmalus).We demonstrate that the result of the test depends...

Recently, Caballi and Pomansky (1996) proposed a formal definition of mixed risk aversion and characterized stochastic dominance in presence of such utility functions. However they did not study comparative mixed risk aversion. In this note we give a sufficient condition for analytic comparative...

In this paper we show how a shift in a return distribution affects the composition of an optimal portfolio in the case of one riskless asset and two risky assets. We obtain that, in general, such a shift modifies the composition of the mutual fund. We also show that the separating conditions...

Information problems have a large role to play in insurance markets and the regulations governing these markets were in part designed to take such problems into account. Classification variables are usually the tools used to reduce adverse selection, whereas bonus-malus (or merit-rating) schemes...

In this survey we present some of the more significant results in the literature on adverse selection in insurance markets. Sections 1 and 2 introduce the subject and section 3 discusses the monopoly model developed by Stiglitz (1977) for the case of single-period contracts and extended by many...

In this paper, we propose an empirical analysis of the presence of adverse selection in an insurance market. We first present a theroetical model of a market with adverse selection and we introduce different issues related to transaction costs, accident costs, risk aversion and moral hazard. We...

We study the interaction between leverage, employment structure and compensation policies within firms.

In this paper we show how a shift in a return distribution affects the composition of an optimal portfolio in the case of one riskless asset and two risky assets. We obtain that, in general, such a shift modifies the composition of themutual fund. We also show that the separating conditions...

Le but de cette recherche etait de verifier comment la relation statistique entre les infractions au CSR (code de la securite routiere) et les accidents peut etre influencee par differentes variables differenciant les conducteurs de vehicules lourds (camions et autobus): caracteristiques...

This paper proposes bonus-malus systems for fleets of vehicules, by using the individual characteristics of both the vehicules and the carriers.