The sum insured of insured assets is one of the basic significant characteristics of insurance policy quality and is the ceiling amount of insurance benefit in the case of an insured loss. It is one of the parameters specified in the policy and affects the premium amount. The sum insured relates...

Asymmetry of information is generally solvable on the current Czech insurance market. This article presents a different view of the issue. There is a specific effect of the asymmetry of information on the insurance market. The phenomenon is the concealment of information in the insurance...

This article elaborates on how information is provided in the terms and conditions of various insurers and how it is related to one of potential demonstrations of information asymmetry. The aim of this article is to evaluate the level of knowledgeableness in the insurance conditions of the...

The paper is focused on selected indicators of the insurance market in the Czech and Slovak Republic. The indicators are used for the analysis of the insurance market during years 1993- 2010. The periods of time is chosen from 1993, because in this year the Czech and Slovak Federative Republic...

Asymmetry of information is generally solvable on the current Czech insurance market. This article presents a different view of the issue. There is a specific effect of the asymmetry of information on the insurance market. The phenomenon is the concealment of information in the insurance...

This note demonstrates how performance measure congruity and noise determine an agency’s total surplus within an linear agency framework with multiple tasks. It provides a decomposition of agency costs, leading back to a congruity index previously proposed in the literature. In addition,...

We develop a model to show that cartels that produce goods with lower durability are easier to sustain implicitly. This observation gen- erates the following results: 1) implicit cartels have an incentive to pro- duce goods with an inefficiently low level of durability; 2) a monopoly or explicit...

In this paper, a promotion tournament is considered, where, at the beginning of the tournament, it is unknown how long the tournament lasts. Further, the promotion decision is based on the assessments of a supervisor with imperfect recall. In line with psychological research, the supervisor is...