Insurance and Insurance Markets
نویسندگان
چکیده
منابع مشابه
Trust & Insurance Markets Trust & Insurance Markets
Trust is a key determinants of any financial transaction. Exchanges in insurance markets are a particular type of financial transaction where a current payment – the premium – is exchanges for a promise of a future, contingent payment – the indemnity due when the casualty occurs. We argue that trust is key in fostering these type of exchanges. Trust enters two ways: because it affects the willi...
متن کاملPreference Heterogeneity and Insurance Markets: Explaining a Puzzle of Insurance.
The textbook approach to insurance markets emphasizes the role of private information about risk in determining who purchases insurance. In the classic adverse selection model of Michael Rothschild and Joseph Stiglitz (1976), individuals with higher expected claims buy more insurance than those with lower expected claims, who may be out of the market entirely. This basic prediction of asymmetri...
متن کاملSocial Insurance with Competitive Insurance Markets and Risk Misperception
Social Insurance with Competitive Insurance Markets and Risk Misperception* This paper considers an economy where individuals differ in productivity and in risk. Rochet (1991) has shown that when private insurance markets offer full coverage at fair rates, social insurance is desirable if and only if risk and productivity are negatively correlated. This condition is usually shown to be satisfie...
متن کاملAre Health Insurance Markets Competitive?
The United States stands virtually alone among leading industrialized nations in its heavy and increasing reliance on the private insurance sector to intermediate health care for its residents. The assumption underlying this system is that fierce competition among private insurers yields more efficient outcomes, broadly writ (Alain C. Enthoven 1978). However, a comprehensive survey on the state...
متن کاملInsurance Markets with Differential Information
s: This paper attempts to understand the outcomes when each party of the insurance contracts simultaneously has superior information to the other. We decompose the risk of a policyholder into a general risk and a specific risk. We assume that policyholders have superior information about specific risks while insurers have superior information about general risks. When each risk can be either hi...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2017
ISSN: 1556-5068
DOI: 10.2139/ssrn.2943685