Contributions to Insurance Economics by Christian Gollier (auth.), Georges Dionne (eds.)

By Christian Gollier (auth.), Georges Dionne (eds.)

For a few years, i've been educating and doing learn within the economics of uncertainty, info, and coverage. even though it is now attainable to discover textbooks and books of essays on uncertainty and in­ formation in economics and finance for graduate scholars and researchers, there isn't any similar fabric that covers complex study in coverage. the aim of this ebook is to fill this hole in literature. It presents unique surveys and essays within the box of coverage economics. The contributions supply simple reference, new fabric, and instructing supple­ ments to graduate scholars and researchers in economics, finance, and assurance. It represents a supplement to the booklet of readings entitled Foundations of coverage Economics - Readings in Economics and Finance, lately released through the S.S. Huebner origin of assurance schooling. In that e-book, the editors (G. Dionne and S. Harrington) disseminate key papers within the literature and submit an unique survey of significant contributions within the field.

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Gollier. (1989). "Risk Sharing on the Labor Market," mimeo, CORE, Louvain La-Neuve, Belgium. , and R. Winkler. (1981). "Risk Sharing and Group Decision Making," Management Science 27, 1221-1235. Farber, H. S. (1978). " Journal of Political Economy 86, 923-942. , and P. Howitt. (1980). "Credit Rationing and Implicit Contract Theory," Journal of Money, Credit and Banking 12, 471-487. , and M. E. Blume. (1975). "The Demand for Risky Assets," American 22 CONTRIBUTIONS TO INSURANCE ECONOMICS Economic Review 65, 900-922.

Since program (9) is convex, there is a one-to-one correspondence between Ie and 71:. 5. There is an exception to that evolution: Schlesinger (1988) uses the second-degree stochastic dominance principle to prove Proposition 2. 6. For more detail, see Gollier (1987a). Basically, the model is mispecified to analyze negative claims. In fact, a dollar transferred from the insured to the insurer should be evaluated 1 - k' dollar, rather than 1 + k as in equation (14), by the insurer where k' denotes the (proportional) costs incurred for this type of transaction.

Farber, H. S. (1978). " Journal of Political Economy 86, 923-942. , and P. Howitt. (1980). "Credit Rationing and Implicit Contract Theory," Journal of Money, Credit and Banking 12, 471-487. , and M. E. Blume. (1975). "The Demand for Risky Assets," American 22 CONTRIBUTIONS TO INSURANCE ECONOMICS Economic Review 65, 900-922. Gerber, H. U. (1978). "Pareto-Optimal Risk Exchanges and Related Decision Problems," Astin Bulletin 10,155-179. Gollier, C. (1987a). "The Design of Optimal Insurance without the Nonnegativity Constraint on Claims," Journal of Risk and Insurance 54, 312-324.

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