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 then summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …

We take a dynamic perspective on insurance markets under adverseselection and study a generalized Rothschildand … dynamic contracts. An unconditional dynamiccontract has insurance companies offeringcontracts where the terms of the contract … on individualpast performance (like in car insurances). Weinvestigate whether allowing insurance companies to offer …

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 …

Bundled insurance contracts, providing protection based on several loss coverages, are attractive because they allow … insurers to focus on the needs of the policyholder. A common contract feature is a deductible set so that the insurance pays …. Without combined deductibles, it is straightforward to value bundled insurance contracts as the sum of contracts from each …

to a catastrophe. Distinct from the existing literature on insurance cycles, we model optimal contracting by competitive … insurance cycle …

Funeral Aid Associations (FAAs) in Northeast Thailand offer micro funeral insurance at affordable premium levels while … the insurance. Compared to many other micro insurance schemes, however, FAAs do not seem to face adverse effects of this … of a sufficient number of low-risk individuals, who deliberately buy insurance despite what their risk types would advice …

Recent events involving major insurance companies and insurance brokerage firms highlight substantial incentive … without intermediation. A controversial matter in the discussion concerning insurance intermediation is the issue of … by insurance companies. The rationale for the latter is the fact that a fee paid by uninformed consumers limits the …

In this study, we assess the relevance of decreasing information asymmetry on life and nonlife insurance consumption … Generalised Method of Moments. The findings show that information sharing offices increase insurance consumption with a … comparatively higher magnitude in life insurance penetration, relative to non-life insurance penetration. Practical and theoretical …

A key feature of insurance markets is that the cost of selling insurance policies is contingent upon not only the … number of policies sold but to whom they are sold. This differentiates insurance markets from conventional markets and admits … categorization data for the Washington state non-standard private passenger automobile liability insurance market. This unique data …

form of an insurance contract to impose partial insurance of the low risks. This paper contributes to the discussion on … optimal insurance. It analyzes two basic forms of insurance contracts: A contract with a deductible and a contract imposing a … positive co-insurance rate. Since high risks can always self-reveal themselves as high risks and buy the optimal insurance …