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Chapter 5. Insurance and Insurance Markets

Dionne, Georges; Harrington, Scott E. - In: Handbook of the economics of risk and uncertainty : volume 1, (pp. 203-261). 2014

beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical … contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …

Persistent link: https://www.econbiz.de/10014025527

Competitive Insurance Markets and Adverse Selection in the Lab

Riahi, Dorra - 2010

We provide an experimental analysis of competitive insurance markets with adverse selection. Our parameterized version … of the lemons' model (Akerlof 1970) in the insurance context predicts total crowding out of low-risks when insurers offer … a single full insurance contract. The therapy proposed by Rothschild and Stiglitz (1976) to solve this major …

Persistent link: https://www.econbiz.de/10013137823

Adverse selection in the annuity market with sequential and simultaneous insurance demand

Brunner, Johann K.; Pech, Susanne - 2002 - Revised Version

-time pension insurance, we consider a model where for each period of retirement separate contracts can be purchased. Demand for the …

Persistent link: https://www.econbiz.de/10009750235

Adverse selection in the annuity market when payoffs vary over the time of retirement

Brunner, Johann K.; Pech, Susanne - 2000 - Revised Version

This paper investigates the effect of adverse selection and price competition on the private annuity market in a model with two retirement periods. In this framework annuity companies can offer contracts with different payoffs over the periods of retirement. Varying the time structure of the...

Persistent link: https://www.econbiz.de/10009750561

Adverse selection in the annuity market with sequential and simultaneous insurance demand

Brunner, Johann K.; Pech, Susanne - 2002

retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement …

Persistent link: https://www.econbiz.de/10011541030

Cohort Mortality Risk or Adverse Selection in the UK Annuity Market?

Cannon, E. S. - 2013

The "money's worth" measure has been used to assess whether annuities are fairly valued and also as evidence for adverse selection in the annuity market. However, a regulated life assurer with concerns about predicting long-run mortality may price annuities to reduce these risks which will...

Persistent link: https://www.econbiz.de/10013081487