How Does Life Settlement Affect the Primary Life Insurance Market?
نویسندگان
چکیده
منابع مشابه
How Does Life Settlement Affect the Primary Life Insurance Market?∗
We study the effect of the life settlement market on the structure of long term contracts offered by the primary market for life insurance, as well as the effect on consumer welfare, using a dynamic model of life insurance with one sided commitment and bequest-driven lapsation. We show that the presence of life settlement affects the extent as well as the form of dynamic reclassification risk i...
متن کامل“the effect of risk aversion on the demand for life insurance: the case of iranian life insurance market”
abstract: about 60% of total premium of insurance industry is pertained?to life policies in the world; while the life insurance total premium in iran is less than 6% of total premium in insurance industry in 2008 (sigma, no 3/2009). among the reasons that discourage the life insurance industry is the problem of adverse selection. adverse selection theory describes a situation where the inf...
15 صفحه اولthe test for adverse selection in life insurance market: the case of mellat insurance company
انتخاب نامساعد یکی از مشکلات اساسی در صنعت بیمه است. که ابتدا در سال 1960، توسط روتشیلد واستیگلیتز مورد بحث ومطالعه قرار گرفت ازآن موقع تاکنون بسیاری از پژوهشگران مدل های مختلفی را برای تجزیه و تحلیل تقاضا برای صنعت بیمه عمر که تماما ناشی از عدم قطعیت در این صنعت میباشد انجام داده اند .وهدف از آن پیدا کردن شرایطی است که تحت آن شرایط انتخاب یا کنار گذاشتن یک بیمه گزار به نفع و یا زیان شرکت بیمه ...
15 صفحه اولDoes the Secondary Life Insurance Market Threaten Dynamic Insurance?
There is a vast theoretical literature on dynamic contracts that has received very little empirical attention (exceptions are Chiappori, Salanie and Valentin (1999) and Hendel and Lizzeri (2003)). This paper describes how a recent development in the life insurance market further illustrates the usefulness and power of the dynamic risk-sharing/learning model originally proposed by Harris and Hol...
متن کاملThe Economics of Life Insurance Settlement
We investigate the effects of the settlement market of life insurance policies on the monopolistic insurer's profit and social welfare. We assume that consumers differ only in their liquidity needs, and that the insurer cannot discriminate consumers based on their liquidity needs. When the settlement market incurs no costs, we find that the existence of the settlement market enhances social wel...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2010
ISSN: 1556-5068
DOI: 10.2139/ssrn.1550919