Mutual insurance companies and stock insurance companies are different forms of organized risk sharing: policyholders … necessary for a stock insurer to offer insurance at a fair premium, but not for a mutual. In the presence of an ownermanager …

We take a dynamic perspective on insurance markets under adverseselection and study a generalized Rothschildand … dynamic contracts. An unconditional dynamiccontract has insurance companies offeringcontracts where the terms of the contract … on individualpast performance (like in car insurances). Weinvestigate whether allowing insurance companies to offer …

) shows that this constraint might well bind: insured could get higher expected utility if insurance contracts would allow … optimal insurance contract he derives underestimates the relevance of the non-negativity constraint on indemnities. This paper …

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 …

development of modern social policy, this paperexamines the origin of the system of contributory unemployment insurance during the … working class as the most important protagonist behind the transition from 'assistance' to 'insurance' policies, this … an insurance solution tothe risk of unemployment was the decisive factor leading to the introduction of theinsurance …

international borrowing. Intercasual insurance, reducing exposure to differences in contingent future cases, and not intertemporal …

partial and full insurance can obtain, depending on the relative patience of agents and financial intermediaries. Insurance …

insurance sector can cause the current value of banks' assets to be less than the current value of their liabilities so the …

In a two-stage model insurance companies first decide upon risk classification and then compete in prices. I show that … insurance market individual application of classification schemes induces welfare losses due to cream skimming. Classification …