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In this paper we show how theorems of Borsuk-Ulam and Tucker can be used to construct a consensus-halving: a division of an object into two portions so that each of n people believe the portions are equally split. Moreover, the division takes at most n cuts, which is best possible. This extends...
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that different risk-groups prefer different types of contracts, and that only the sequential contracts, which are …
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two periods can be decided either sequentially or simultaneously. We show that only a situation where all risk types …
Persistent link: https://www.econbiz.de/10009750235
that different risk-groups prefer different types of contracts, and that only the sequential contracts, which are …
Persistent link: https://www.econbiz.de/10011541030
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
concerns. Each AAI invests in a risky asset and a risk-free asset, and manages her own risks by purchasing reinsurance with the …
Persistent link: https://www.econbiz.de/10012969836
We study a dynamic Stackelberg differential game between a buyer and a seller of insurance policies in a spectrally negative Lévy framework, in which both parties are ambiguous about the intensity and severity of insurable losses. Both the buyer and seller aim to maximize their expected wealth,...
Persistent link: https://www.econbiz.de/10013307577
. We consider the collective risk model to define the aggregate loss faced by insurers, with claim amounts being …
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