institutional framework that governs mortgage lending lead to information loss in appraisals (that is, appraisals set equal to the … incidence of mortgage default at loan-to-value boundaries (notches) above which mortgage insurance rates increase. Appraisals …

information loss (appraisals set equal to transaction price) to market conditions and other factors that plausibly determine the … degree of distortion. Information loss in appraisals may increase the procyclicality of housing booms and busts. …

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 …

-bearing and insurance, for the liability system acts as an implicit insurer for accident victims and it imposes risk on potential … injurers (because they may have to pay judgments to victims). In this regard, victims' accident insurance and injurers …' liability insurance are taken into account. The third general aspect of accident liability is its administrative expense …

Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing …