منابع مشابه
On Merton ́s Problem for Life Insurers
This paper deals with optimal investment and redistribution of the free reserves connected to life and pension insurance contracts in form of dividends and bonus. Formulated appropriately this problem can be viewed as a modification of Merton’s problem of optimal consumption and investment with a very particular form of consumption and utility hereof. Both are linked to a finite state Markov ch...
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 اولDeflation Risk and Implications for Life Insurers
Life insurers are exposed to deflation risk: falling prices could lead to insufficient investment returns, and inflation-indexed protections could make insurers vulnerable to deflation. In this spirit, this paper proposes a market-based methodology for measuring deflation risk based on a discrete framework: the latter accounts for the real interest rate, the inflation index level, its condition...
متن کاملCan Employers Solve the Adverse Selection Problem for Insurers?
Establishing the existence of equilibrium in insurance markets has always been a challenging task for economists due to imperfect information. As illustrated by Rothschild and Stiglitz (1976), imperfect information may lead to complete market failure. This paper extends the standard model of adverse selection by introducing employers that choose the set of policies that are offered to consumers...
متن کاملA study on efficiency and productivity of Indian non-life insurers using data envelopment analysis
This paper talks about the measurement of efficiency and productivity of non-life insurance firms in India. This study is focused on twelve private non-life insurance firms and four public sector non-life insurance firms of India in the period 2008-09 to 2012-13. Data Envelopment Analysis (DEA) coupled with Malmquist productivity Index is used in measuring the efficiency as well as productivity...
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ژورنال
عنوان ژورنال: ASTIN Bulletin
سال: 2004
ISSN: 0515-0361,1783-1350
DOI: 10.1017/s0515036100013854