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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

The role of sickness in the evaluation of job search assistance and sanctions

van den Berg, Gerard J.; Hofmann, Barbara; Uhlendorff, Arne - 2016

Ein Instrument zur Eindämmung von Moral Hazard in der Arbeitslosenversicherung ist die finanzielle Sanktion in Form … Vermittlungsvorschlägen und Sperrzeiten auf die Dauer der Arbeitslosigkeit und die Qualität der aufgenommenen Jobs.Wir schätzen Multi … auf die Wahrscheinlichkeit einer Krankmeldung. Dieser Effekt ist geringer in späteren Monaten der Arbeitslosigkeit. Dies …

Persistent link: https://www.econbiz.de/10011531724

Job search, unemployment protection and informal work in advanced economies

Long, Iain W.; Polito, Vito - 2017

This paper investigates the incentives that may induce workers to supplement income from unemployment benefits by engaging in temporary informal work. Using a dynamic model of job-search with moral hazard that incorporates a stylised schedule of benefit payments, we describe how informal sector...

Persistent link: https://www.econbiz.de/10011761509

On existence of private unemployment insurance with advance information on future job losses

Denderski, Piotr; Stoltenberg, Christian - 2021

We study the existence of a profitable unemployment insurance market in a dynamic economy with adverse selection rooting in information on future job losses. The new feature of the model is that the insurer and workers interact repeatedly. Repeated interactions make it possible to threaten...

Persistent link: https://www.econbiz.de/10012545133

Alternative Systeme der Arbeitslosenversicherung: das Beispiel der Vereinigten Staaten und des Vereinigten Königreichs

Glismann, Hans H.; Schrader, Klaus - 2001

keine Arbeitslosenversicherung im herkömmlichen Sinne: Die Einkommenssicherung bei Arbeitslosigkeit erfolgt durch die …Im Rahmen eines Vergleichs der amerikanischen und britischen Systeme der Arbeitslosenversicherung wird gezeigt, daß das … Arbeitslosenversicherung und der Höhe der Freisetzung von Arbeitskräften aufweist ("experience rating"). Im Vereinigten Königreich gibt es …

Persistent link: https://www.econbiz.de/10010265488

Alternative Systeme der Arbeitslosenversicherung : das Beispiel der Vereinigten Staaten und des Vereinigten Königreichs

Glismann, Hans H.; Schrader, Klaus - 2001

Persistent link: https://www.econbiz.de/10011495405

Adverse Selection in Insurance Markets : On-Demand Contracts As a Screening Device

Braun, Alexander - 2020

We show that on-demand insurance contracts, an innovative form of coverage recently introduced through the InsurTech sector, can serve as a screening device. To this end, we develop a new adverse selection model consistent with Wilson (1977), Miyazaki (1977) and Spence (1978). Consumers have...

Persistent link: https://www.econbiz.de/10012822927

Adverse Selection in Insurance Contracting

Dionne, Georges; Fombaron, Nathalie; Doherty, Neil A. - 2012

In this survey we present some of the more signi ficant results in the literature on adverse selection in insurance markets. Sections 1 and 2 introduce the subject and Section 3 discusses the monopoly model developed by Stiglitz (1977) for the case of single-period contracts extended by many...

Persistent link: https://www.econbiz.de/10014166478

Job search costs and incentives

Zapechelnyuk, Andriy; Zultan, Ro'i - 2012

The costs of searching for a job vacancy are typically associated with friction that deters or delays employment of potentially productive individuals. We demonstrate that in a labor market with moral hazard where effort is noncontractible, job search costs play a positive role, whose effect may...

Persistent link: https://www.econbiz.de/10009517818

Work incentives?: ex post effects of unemployment insurance sanctions ; evidence from West Germany

Hofmann, Barbara - 2008

Unemployment insurance (UI) sanctions in the form of benefit reductions are intended to set disincentives for UI recipients to stay unemployed. Empirical evidence about the effects of UI sanctions in Germany is sparse. Using administrative data we investigate the effects of sanctions on the...

Persistent link: https://www.econbiz.de/10010264524