Andersen, Torben M. - School of Economics and Management, University of Aarhus - 2011
carry too large costs and consequences of changes which are beyond their control and influence. Collective risk sharing is … based on the fact that it is impossible to separate redistribution from collective risk sharing. It is argued that insurance … the scope for collective risk sharing, namely, adverse incentive effects (common pool) and the nature of shocks. It is …