On The Competition Between Insurers With Superior Information
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On The Competition Between Insurers With Superior Information
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Author : S. Hun Seog
language : en
Publisher:
Release Date : 2014
On The Competition Between Insurers With Superior Information written by S. Hun Seog and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
We reinvestigate the case in which insurers have superior information regarding consumer's risk types, as studied by Villeneuve (2005, European Economic Review 49, 321-340). While Villeneuve produces interesting results on insurance contracts, the diverse outcomes make it difficult to pinpoint main implications. We make slight changes to the conditions in the Villeneuve's model by considering that there are a large number of insurers to ensure the competitive market; and that, in an equilibrium, contracts are required to be optimal even if some consumers are allowed to visit not all insurers announcing the same menus. We demonstrate that no pooling equilibrium can exist and that a separating equilibrium exists if and only if the difference between loss probabilities of types is large (types are distant). In a separating equilibrium, low risks are fully insured with actuarially fair premium, while high risks are self-insured. Our results provide a refinement of Villeneuve (2005), which is analogous to the monopoly case. This paper clarifies that high risk consumers bear information costs when insurers have superior information, in contrast with standard adverse selection models.
Handbook Of Insurance
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Author : Georges Dionne
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-12-02
Handbook Of Insurance written by Georges Dionne and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-02 with Business & Economics categories.
This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.
The Economics Of Risk And Insurance
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Author : S. Hun Seog
language : en
Publisher: John Wiley & Sons
Release Date : 2010-03-15
The Economics Of Risk And Insurance written by S. Hun Seog and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-15 with Business & Economics categories.
Written for advanced undergraduate and master’s level courses, this book builds from a base of asymmetric information issues to discuss a wide array of topics and is illustrated with some timely examples. Covers diverse issues such as risk aversion, expected utility, and moral hazard within the pure theory of insurance Provides a clear exposition of the necessary mathematics, a feature which cannot be found in readers on the topic Utilizes an undergraduate economics major level of math Uses the simplest economic models possible to keep the text intuitive Introduces more mathematically complex techniques such as basic optimization for students wishing to 'go further' in their analysis
New Operational Approaches For Financial Modelling
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Author : Constantin Zopounidis
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
New Operational Approaches For Financial Modelling written by Constantin Zopounidis and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
th This book is devoted to the 19 Meeting of the EURO Working Group on Financial Modelling, held in Chania, Crete, Greece,November28-30, 1996. The EURO Working Group on Financial Modelling was founded in September 1986 in Lisbon. The primary field of interest for the Working Group can be described as "the development of financial models that help to solve problems facedby financial managers in the firm". From this point of view, the following objectivesof the Working Group are distinguished: • providing an international forum for exchange of information and experience on financial modelling; • encouraging research in financial modelling (i. e. new techniques, methodologies, software,empirical studies,etc. ); • stimulating and strengthening the interaction between financial economic theory and the practice of financial decision making; • cooperating and exchanging information with universities and financial institutions throughout Europe. According to the aboveobjectives,the basic aim of this book is to present some new operational approaches (i. e. neural nets, multicriteria analysis, new optimization algorithms, decision software, etc. ) for financial modelling, both in a theoretical and practical levels. Thus, the present volume is divided in nine chapters. The first chapter refers to the new trends in financial modelling and includes two invited papers by Gil-Aluja and Pardalos. The second chapter involves papers on the topic of high performance computing and finance which is a European union project in which participate some members of the EURO Working Group on Financial Modelling (Spronk, Zenios, Dempster, etc. ).
Loss Coverage
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Author : Guy Thomas
language : en
Publisher: Cambridge University Press
Release Date : 2017-05-11
Loss Coverage written by Guy Thomas and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-11 with Business & Economics categories.
A novel book that argues that, contrary to received wisdom, some adverse selection in insurance markets is beneficial to society as a whole. It is for all those interested in public policy arguments about insurance and discrimination: policymakers, academics, actuaries, underwriters, disability activists, geneticists and other medical professionals.
Climate Change And Catastrophe Management In A Changing China
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Author : Qihao He
language : en
Publisher: Edward Elgar Publishing
Release Date :
Climate Change And Catastrophe Management In A Changing China written by Qihao He and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on with Climate change insurance categories.
China is the largest greenhouse gas emitter in the world and also suffers from devastating climate catastrophes. Increasingly, policymakers in China have come to realize that government alone cannot adequately prevent or defray climate-related disaster risks. This book contends that a better way to manage catastrophe risk in China is through private insurance rather than directly through the Chinese government. In addition, private insurance could function as a substitute for, or complement to, government regulation of catastrophe risks by causing policyholders to take greater precautions to reduce climate change risks.
Federal Insurance Act Of 1977
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Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
language : en
Publisher:
Release Date : 1977
Federal Insurance Act Of 1977 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Government publications categories.
Introduction To Risk Management And Insurance
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Author : 多尔夫曼
language : en
Publisher: 清华大学出版社有限公司
Release Date : 1998
Introduction To Risk Management And Insurance written by 多尔夫曼 and has been published by 清华大学出版社有限公司 this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Insurance categories.
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Monitoring Liquidation And Security Design
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Author : Rafael Repullo
language : en
Publisher:
Release Date : 1996
Monitoring Liquidation And Security Design written by Rafael Repullo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business enterprises categories.
Se desarrolla un modelo de empresas financieras en el cual el control de la información acumulada sirva para organizar el comportamiento de los empresarios.
Official Reports Of The Supreme Court
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Author : United States. Supreme Court
language : en
Publisher:
Release Date : 1978
Official Reports Of The Supreme Court written by United States. Supreme Court and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Law reports, digests, etc categories.