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Rationale of underwriters’ pricing conduct on competitive insurance market

Malinovskii, Vsevolod K. - In: Insurance / Mathematics & economics 53 (2013) 2, pp. 325-333

Persistent link: https://www.econbiz.de/10010195924

Equilibrium in Competitive Insurance Markets with Moral Hazard

Arnott, Richard - 1991

This paper examines the existence and nature of competitive equilibrium with moral hazard. The more insurance an individual has, the less care will he take. Consequently, insurance firms attempt to restrict their clients' aggregate insurance purchases. If individuals' aggregate insurance...

Persistent link: https://www.econbiz.de/10012475432

Competitive Insurance Markets with Unbounded Cost

Veiga, Andre - 2020

Azevedo and Gottlieb [2017] (AG) define a notion of equilibrium that always exists in the Rothschild and Stiglitz [1976] (RS) model of competitive insurance markets, provided costs are bounded. However, equilibrium predictions are sensitive to assumptions made about the upper bound of cost:...

Persistent link: https://www.econbiz.de/10012840572

Ambiguity Aversion in Competitive Insurance Markets with Asymmetric Information

Peter, Richard - 2019

We analyze the effect of ambiguous loss probabilities on competitive insurance markets with asymmetric information. We characterize equilibria under actuarially fair pricing with preferences that are second-order ambiguity averse (have smooth indifference curves). We also show existence of...

Persistent link: https://www.econbiz.de/10012890730

Efficient Competition in Insurance Markets

Dosis, Anastasios - 2017

I construct an efficient game of competition for insurance markets with adverse selection. In the game, each company …

Persistent link: https://www.econbiz.de/10012970948

Multidimensional Private Information, Market Structure and Insurance Markets

Fang, Hanming - 2016

A large empirical literature found that the correlation between insurance purchase and ex post realization of risk is often statistically insignificant or negative. This is inconsistent with the predictions from the classic models of insurance a la Akerlof (1970), Pauly (1974) and Rothschild and...

Persistent link: https://www.econbiz.de/10012980144

Multidimensional Private Information, Market Structure and Insurance Markets

Fang, Hanming - 2016

Persistent link: https://www.econbiz.de/10012980824

A Model of Underwriting and Post-Loss Test Without Commitment in Competitive Insurance Market

Huang, Yu - 2017

In this article, we establish a model of competitive insurance markets based on Rothschild and Stiglitz (1976) where insurers can perform risk classification tests either before insurance contracts are issued (underwriting) or when coverage claims are filed (post-loss test). However, insurers...

Persistent link: https://www.econbiz.de/10012960219

Liability insurance : equilibrium contracts under monopoly and competition

Lemus, Jorge A.; Temnyalov, Emil; Turner, John L. - In: American economic journal 13 (2021) 1, pp. 83-115

Persistent link: https://www.econbiz.de/10012436094

(Non-)Insurance Markets, Loss Size Manipulation and Competition - Experimental Evidence

Hinloopen, Jeroen - 2018

defined insurance and non-insurance markets based on the initial loss size, we develop theory to show that insurers with buyer … power have incentives to create insurance markets. Insurer competition will push their profits to zero but markets do not … our theory and find support. Monopolistic insurer-subjects in non-insurance markets increase loss sizes to establish …

Persistent link: https://www.econbiz.de/10012936210