This paper examines whether independent modesof distribution can act as effective externalmonitors of managerial action. Becauseindependent agents are owners of the clientlist, control of an essential cash-generatingasset is concentrated in the hands of informedpurchasers. A consequence of this...

This paper investigates the determinants of consumption for one of the fastest growing financial products in Asia. We find evidence that increased provision of civil rights and political stability leads to an increase in life insurance provision. However, by utilizing various estimation...

This article recognizes the highly differentiated nature of UK mortgages. Applying hedonic pricing models in the generation of interest quality adjusted indices this study would suggest the need for a 0.24 percentage point increase in the retail price index (RPI) (which, at an average RPI of 3%,...

This article examines the importance of legal rights and enforcement in influencing property-casualty insurance (PCI) consumption. We extend the existing literature by examining the role of legal factors in determining insurance density across countries. Also, measures of risk aversion, loss...

The cost of direct and independent distribution in the UK life insurance sector over the period 1990-1997 is examined. This is a novel contribution to the literature that until now has focused almost solely on distribution in the non-life sector. Unlike the non-life sector the distribution of...

This paper examines the importance of legal rights and enforcement in influencing property-casualty insurance consumption. We extend the existing literature by examining the role of legal factors in determining insurance density across countries. Also, measures of risk aversion, loss probability...

This paper explores agency problems associated with mutual and joint stock organizational forms. It examines whether the independent mode of distribution acts as a governance factor that reduces principal-agent and principal-principal costs. By analyzing a 1990-1997 panel of life insurance...

This paper looks at the doctrines of 'Wicca', or what might be termed as pagan or white magic by its adherents, in terms of the economics of religion. The primary focus of the paper is the issue of the degree of product differentiation involved from established religion in terms of two things:...

A Handbook of Cultural Economics includes over 60 eminently readable and concise articles by 50 expert contributors. This unique Handbook is both highly informative and readable; it covers a wide area of cultural economics and its closely related subjects. While being accessible to any reader...