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. …

This paper is a preliminary review of the state of competition in the insurance industry of selected Asian countries … insurance industries of the ASEAN5 economies - Indonesia, Malaysia, Philippines, Singapore and Thailand. It has four main … sections. Section II surveys the market structure and overall performance of the insurance industry in the ASEAN5 economies …

We examine insurance markets with two types of customers: those who regret suboptimal decisions and those who don.t. In … positive correlation between the amount of insurance coverage and risk type, as in the standard economic models of adverse … selection, but there also exist separating equilibria that predict a negative correlation between the amount of insurance …

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

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out …, the criticism against monopoly innovation based on its increased deadweight loss is less accurate than previously …

to charge the monopoly price. This paper compares a Demsetz auction, which awards an exclusive contract to the agent …