Under certain conditions the optimal insurance policy will offer full coverage above a deductible, as Arrow and others … have shown long time ago. Interestingly, the same design of insurance policies applies in case of a single loss and ex …-ante moral hazard. However, many insurance policies provide coverage against a variety of losses and the possibilities for the …

The Knappschaft underlies Bismarck's sickness and accident insurance legislation (1883 and 1884), which in turn forms … the basis of the German social-insurance system today and, indirectly, many social-insurance systems around the world. The … problem central to any insurance system, and one that plagued the Knappschaften as they grew larger in the later nineteenth …

This paper studies moral hazard in a sickness-insurance fund that provided the model for socialinsurance schemes around … benefits at low costs. The Knappschaft underlies Bismarck's sickness and accident insurance legislation (1883 and 1884), which … in turn forms the basis of the German social-insurance system today and, indirectly, many social-insurance systems around …

We characterize how public insurance schemes are constrained by hidden financial transactions. When non …-exclusive private insurance entails increasing unit transaction costs, public transfers are only partly offset by hidden private … of insurance on unobservable effort and saving choices as well as the relative cost of public and private insurance …

Individual moral hazard engendered by health insurance and monopolistic production are both typical phenomena of drug … insurance against the risk of drug expenses. In contrast, the social welfare criterion suggests that individuals should purchase … more insurance coverage than they choose to do in the market equilibrium. …

We analyse a 2-period competitive insurance market which is characterized by the simultaneous presence of standard … which patient consumers use high effort and buy a profit-making insurance contract with high coverage, whereas impatient …

This paper empirically analyzes moral hazard in car insurance using a dynamic theory of an insuree's dynamic risk (ex …

We analyze the effect of counterparty risk on insurance contracts using the case of credit risk transfer in banking. In …

The paper studies insurance with moral hazard in a system of contingent-claims markets. Insurance buyers are modelled … corresponding to effort incentives induced by insurance buyers? net trades. When there are many agents to share the insurance buyer …?s risk, Cournot equilibrium outcomes are close to being second-best. In contrast, if insurance buyers are price takers …