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Dionne, Georges; Harrington, Scott E. - 2014

Persistent link: https://www.econbiz.de/10010366837

Chapter 5. Insurance and Insurance Markets

Dionne, Georges; Harrington, Scott E. - In: Handbook of the economics of risk and uncertainty : volume 1, (pp. 203-261). 2014

beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical … contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …

Persistent link: https://www.econbiz.de/10014025527

Optimal form of retention for securitized loans under moral hazard

Dionne, Georges; Malekan, Sara - In: Risks : open access journal 5 (2017) 4, pp. 1-13

We address the moral hazard problem of securitization using a principal-agent model where the investor is the principal and the lender is the agent. Our model considers structured asset-backed securitization with a credit enhancement (tranching) procedure. We assume that the originator can...

Persistent link: https://www.econbiz.de/10011783323