This paper uses medical care costs of joiners in their first year and of leavers in their last year prior the move, relative to the age–sex groups’ means, to examine the mechanisms behind the switching decisions. Since under the Israeli National Health Insurance Scheme no premiums are paid...

The paper analyzes the risk disclosure quality in the prospectus of IPOs in Germany between 2006 and 2008. Quality of risk information is measured as precision and comprehensibility. The relationship between risk disclosure quality and earnings power is tested.

Angesichts sich wiederholender Hochwasserereignisse in Deutschland wird immer wieder die Einführung einer Pflichtversicherung gegen Elementarschäden gefordert. Der Beitrag untersucht gängige Argumente für die Einführung einer solchen Versicherung. Im Ergebnis plädieren die Autoren für...

What are the welfare effects of a policy that facilitates for insurance customers to privately and covertly learn about their accident risks? We endogenize the information structure in Stiglitz's classic monopoly insurance model. We first show that his results are robust: For a small information...

“Risk and insurance” provides an illustrative set of decisions made in the presence of uncertainty. As behavioral models become more integrated into economics and finance, many of their effects are illustrated quite well within insurance markets. Especially noteworthy are the complementary...

Charness and Dufwenberg (Am. Econ. Rev. 101(4):1211–1237, <CitationRef CitationID="CR10">2011</CitationRef>) have recently demonstrated that cheap-talk communication raises efficiency in bilateral contracting situations with adverse selection. We replicate their main finding and extend their design to include competition between agents....</citationref>

We model the effect of external financing on a firm's ability to maintain a reputation for high-quality production. Producing high quality is first best. Defecting to low quality is tempting because it lowers current costs while revenue remains unchanged because consumers and outside investors...

This paper investigates the relationship between market microstructure and corporate governance in the Tunisian Stock Market. We examine in particular, the relationship between stock liquidity and institutional ownership by the type of institutions (e.g. banks, insurance companies, investment...

One third of entrepreneurs are going to withdraw within the next future in Europe. Business transfers are complex and suffer from lots of imperfections. Business transfers suffer not only from informational asymmetries but from the revision of stakeholders?beliefs as soon as they know the...