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Social Insurance of Short Spell Sickness
Flåm, Sjur Didrik - In: Nordic Journal of Political Economy 30 (2004), pp. 79-90
This paper looks at social insurance of short term absence from work. The chief concern is with efficiency properties of full coverage. That arrangement is reviewed and criticized here in light of received theory. A main point is that positive loading of the premium implies less than full...
Persistent link: https://www.econbiz.de/10005435874
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Chapter 5. Insurance and Insurance Markets
Dionne, Georges; Harrington, Scott E. - In: Handbook of the economics of risk and uncertainty : volume 1, (pp. 203-261). 2014
Kenneth Arrow and Karl Borch published several important articles in the early 1960s that can be viewed as the 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...
Persistent link: https://www.econbiz.de/10014025527
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Chapter 31 Health care and the public sector
Cutler, David M. - In: Handbook of public economics : volume 4, (pp. 2143-2243). 2002
This chapter summarizes the many aspects of public policy for health care. I first consider government policy affecting individual behaviors. Government intervention to change individual actions such as smoking and drinking is frequently justified on externality grounds. External costs of...
Persistent link: https://www.econbiz.de/10014024858
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Deductible or co-insurance: Which is the better insurance contract under adverse selection?
Breuer, Michael - 2004
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 … expected utility while deterring high risks from joining the contract that is designed for low risks. The deductible contract …
Persistent link: https://www.econbiz.de/10010315526
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Determinants of consumer financial risktaking:Evidence from deductible choice
Gorter, Janko; Schilp, Paul - de Nederlandsche Bank - 2010
This paper examines the predictive power of weather for electricity prices in day ahead markets in real time. We find that next-day weather forecasts improve the forecast accuracy of Scandinavian day-ahead electricity prices substantially in terms of point forecasts, suggesting that weather...
Persistent link: https://www.econbiz.de/10008475765
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Deductible or Co-Insurance: Which is the Better Insurance Contract under Adverse Selection?
Breuer, Michael - Institut für Volkswirtschaftslehre, … - 2004
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 … expected utility while deterring high risks from joining the contract that is designed for low risks. The deductible contract …
Persistent link: https://www.econbiz.de/10005566318
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Bounded rationality and socially optimal limits on choice in a self-selection model
Sheshinski, Eytan - 2003
When individuals choose from whatever alternatives available to them the one that maximizes their utility then it is always desirable that the government provide them with as many alternatives as possible. Individuals, however, do not always choose what is best for them and their mistakes may be...
Persistent link: https://www.econbiz.de/10011505924
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Customers and Investors : A Framework for Understanding Financial Institutions
Merton, Robert C. - 2016
Financial institutions have both investors and customers. Investors, such as those who invest in stocks and bonds or private/public-sector guarantors of institutions, expect an appropriate risk-adjusted return in exchange for the financing and risk-bearing that they provide. Customers of a...
Persistent link: https://www.econbiz.de/10013004624
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Default and Punishment in General Equilibrium
Dubey, Pradeep K.; Geanakoplos, John; Shubik, Martin - 2004
We extend the standard model of general equilibrium with incomplete markets to allow for default and punishment by thinking of assets as pools. The equilibrating variables include expected delivery rates, along with the usual prices of assets and commodities. By reinterpreting the variables, our...
Persistent link: https://www.econbiz.de/10014074211
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Default and Punishment in General Equilibrium
Dubey, Pradeep K.; Geanakoplos, John; Shubik, Martin - 2004
We extend the standard model of general equilibrium with incomplete markets to allow for default and punishment by thinking of assets as pools. The equilibrating variables include expected delivery rates, along with the usual prices of assets and commodities. By reinterpreting the variables, our...
Persistent link: https://www.econbiz.de/10014070241