Download or read book Essays in the Economics of Information Risk and Insurance written by Alma Cohen and published by . This book was released on 2002 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Information and Insurance written by Henri Loubergé and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Orio Giarini The "Geneva Association" (International Association for the Study of Risk and Insurance Economics) was founded in 1973. The main goal was to stimulate and organize objective research in the field of risk, uncertainty, and insurance, in a world in which such issues were clearly becoming of greater and greater relevance for all economic actors. This was a pioneer ing effort, especially as economic theory and the teaching of economics were still anchored to the key notion of general equilibrium under an assumption of certainty. Thus, we had to start our work almost from scratch. One of the first initiatives was to bring together in Geneva, in June of 1973, all the academics in Europe already involved in risk and insurance economics. We found eight from five different countries who never had met before. This seminar chaired by Raymond Barre, the first president of The Geneva Association, was the first of an annual series that became known as the seminar of "The European Group of Risk and Insurance Economists." Since then more than 100 economists from most European countries as well as participants from two other continents and in particular from the United States have taken part in this seminar.
Download or read book Insurance Risk Management and Public Policy written by Sandra G. Gustavson and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Five years ago the world lost one of its most prolific insurance scholars, Dr. Robert I. Mehr. His death in 1988 signalled the passing of not only a gifted writer and researcher, but also a pioneering teacher, mentor, and friend. The essays compiled within this volume are intended as an appropriate tribute to this occasionally outrageous individual who touched the lives of so many within the insurance community. Bob Mehr was a teacher who expected and demanded nothing less than perfect scholarship and flawless, efficient writing. Among alumni of the University of lllinois insurance doctoral program, stories still abound of late night and early morning sessions in which students and professor painstakingly debated precise words and phrases for dissertations, journal articles, and textbooks. Bob's respect for language was both immense and contagious, if at times more than a little compulsive. He joked that he could not read letters or novels without pencil in hand for editing. Bob's respect for his doctoral students was equally evident. The confidence he displayed in his students' abilities was sometimes startling, but "competence assumed" often begot "competence in fact." The accomplishments and records amassed by the many who studied with Bob Mehr are impressive and ongoing. On the dedication page in his final textbook, Fundamentals of Insurance, Bob spoke of his affection for those he called his "academic progeny" and wished them happiness as they build their own academic families.
Download or read book Essays on the Economics of Selected Multi Period Insurance Decisions with Private Information written by Petra Steinorth and published by VVW GmbH. This book was released on 2011 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Petra Steinorth präsentiert in ihrer in englischer Sprache vorgelegten kumulativen Dissertationsschrift drei theoretische Modelle, die Versicherungsentscheidungen über mehrere Perioden und bei privater Information seitens der Versicherungsnehmer ökonomisch untersuchen. Die Dissertation leistet einen wichtigen Beitrag zur theoretischen Forschung im Bereich Versicherungsökonomie, da insbesondere zu mehrperiodigen Fragestellungen noch großer Forschungsbedarf besteht: Der Beitrag ""Impact of Health Savings Accounts on Precautionary Savings, Demand for Health Insurance and Prevention Effort"" untersucht den Einfluss von steuerlich begünstigten Gesundheitssparkonten auf das Sparverhalten, die Nachfrage nach Krankenversicherung und Prävention. Im zweiten Beitrag ""Yes, No, Perhaps - Explaining the Demand for Risk Classification Insurance with Imperfect Private Information"" wird untersucht, welche Granularität der Risikoklassifizierung optimal ist, wenn die Versicherungsnehmer unvollständige private Information über ihren zukünftigen Risikotyp haben. Der dritte Beitrag ""The Demand for Enhanced Annuities"" analysiert die Reaktion des Marktes auf die Einführung von sogenannten Enhanced Annuities. Dabei handelt es sich um Rentenversicherungsprodukte, die die individuelle Lebenserwartung bei der Tarifierung berücksichtigen. Die wissenschaftliche Arbeit ist auch für Mitarbeiter in Versicherungsunternehmen von Interesse, da sie wichtige Bereiche des Produktmanagements in der Lebens- und Krankenversicherung behandelt. Petra Steinorth ́s dissertation consists of three theoretical models, which all examine the economics of selected multi-period insurance decisions with private information on the part of the insured. The thesis makes an important contribution to insurance economics literature as multi-period problems have not yet been widely studied. The article ""Impact of Health Savings Accounts on Precautionary Savings, Demand for Health Insurance and Prevention Effort"" investigates how tax incentives like health savings accounts influence savings for medical costs, the demand for health insurance and ex ante moral hazard. The second article ""Yes, no, perhaps - Explaining the Demand for Risk Classification Insurance"" examines the optimal risk classification in case the insured have incomplete private information regarding their future risk type. The third article ""The Demand for Enhanced Annuities"" analyzes the market reaction to the introduction of so-called enhanced annuities, which are annuities that take individual factors influencing life expectancy into account for pricing. The scientific dissertation is also of interest to insurance practitioners as it examines important issues in the field of health and life insurance product management."
Download or read book Risk Information and Insurance written by Henri Louberge and published by . This book was released on 1990-01-31 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in the Economic Theory of Risk and Insurance written by and published by . This book was released on 1981 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Contributions to Insurance Economics written by Georges Dionne and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a number of years, I have been teaching and doing research in the economics of uncertainty, information, and insurance. Although it is now possible to find textbooks and books of essays on uncertainty and in formation in economics and finance for graduate students and researchers, there is no equivalent material that covers advanced research in insurance. The purpose of this book is to fill this gap in literature. It provides original surveys and essays in the field of insurance economics. The contributions offer basic reference, new material, and teaching supple ments to graduate students and researchers in economics, finance, and insurance. It represents a complement to the book of readings entitled Foundations of Insurance Economics - Readings in Economics and Finance, recently published by the S.S. Huebner Foundation of Insurance Education. In that book, the editors (G. Dionne and S. Harrington) disseminate key papers in the literature and publish an original survey of major contributions in the field.
Download or read book Essays in the Economic Theory of Risk and Insurance written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Insurance Economics written by Hong Wu and published by . This book was released on 2002 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in the Theory of Risk bearing written by Kenneth Joseph Arrow and published by . This book was released on 1974 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on the Economics of Risk Insurance and Production written by Seyyed Ali Zeytoon Nejad Moosavian and published by . This book was released on 2019 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in the Economic Theory of Risk and Insurance written by and published by . This book was released on 1979 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Foundations of Insurance Economics written by Georges Dionne and published by Springer Science & Business Media. This book was released on 1992 with total page 748 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.
Download or read book Essays on Risk Management and Insurance Economics written by Dennis Christopher Strümpel and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Information and Insurance Markets written by Nathaniel Hendren and published by . This book was released on 2012 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis studies the impact of private information on the existence of insurance markets. In the first chapter, I study the case of insurance rejections. Across a wide set of non-group insurance markets, applicants are rejected based on observable, often high-risk, characteristics. I explore private information as a potential cause by developing and testing a model in which agents have private information about their risk. I derive a new no-trade result that can theoretically explain how private information could cause rejections. I use the no-trade condition to generate measures of the barrier to trade private information imposes. I develop a new empirical methodology to estimate these measures that uses subjective probability elicitations as noisy measures of agents' beliefs. I apply the approach to three non-group markets: long-term care (LTC), disability, and life insurance. Consistent with the predictions of the theory, in all three settings I find significant evidence of private information for those who would be rejected; I find that they have more private information than those who can purchase insurance; and I find that it is enough to cause a complete absence of trade. This presents the first empirical evidence that private information leads to a complete absence of trade. In the second chapter, I show that private information explains the absence of a private unemployment insurance market. I provide the empirical evidence that a private UI market would be afflicted by private information and suggest the amount of private information is sufficient to explain a complete absence of trade. I present evidence a private market would still not arise even if the government stopped providing unemployment benefits. Finally, in the third chapter I use the empirical and theoretical tools developed in the first chapter to explore the impact of an adjusted community rating policy that would force insurance companies to only price based on age. My results suggest such a policy would completely unravel the LTC insurance market. Not only would welfare not be improved for those who are currently rejected, but the regulation would prevent the healthy from being able to purchase long-term care insurance.
Download or read book Essays on the Economics of Health Insurance Markets written by Richard Domurat and published by . This book was released on 2018 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation includes three chapters on the health insurance markets established by the Affordable Care Act (ACA), known as exchanges. Chapter 1 estimates the demand for each plan in the California exchange using a discrete choice model. The model incorporates heterogeneity in consumer preferences and in product characteristics, including hospital and primary care physician (PCP) networks. Endogeneity of prices is addressed using networking hospital costs as instruments, and prices for any given plan can vary across consumers within a market. Consumers are highly sensitive to prices, with market shares declining by 3%-5% for just a $1 increase in the premium. Demand also responds to hospital and PCP networks, but to a relatively small degree. Along the take-up margin, a $1 increase in premium subsidy increases take-up by 1.4%. Chapter 2 uses a structural model of demand and supply to examine how two insurance market regulations--community rating and risk adjustment--affect prices and enrollment in the ACA exchange in California. Without risk adjustment, community rating in the ACA would lead to a significant reduction in enrollment in desirable plans and in take-up overall. Risk adjustment under the ACA roughly restores relative shares across plans to what they would be without community rating; however, the reduction in take-up is not restored. An alternative risk adjustment method can increase enrollment by 3.0% and would have little impact on government spending. Chapter 3, written jointly with Isaac Menashe and Wesley Yin, examines the impact of information on insurance take-up in the ACA. We exploit experimental variation in the information mailed to 87,000 households in California's exchange to study the role of frictions in insurance take-up. We find that a basic reminder of the enrollment deadline raised enrollment by 1.4 pp (or 16 percent). Compared to the reminder alone, also reporting personalized subsidy benefits increases take-up among low-income individuals, but decreases take-up among higher-income individuals. This is despite reminder-only recipients eventually observing their subsidies before purchase. Finally, the letter interventions induced healthier individuals into the market, lowering aggregate spending risk by 5.9 percent, suggesting these interventions can improve both enrollment and average market risk.
Download or read book Essays in insurance economics written by and published by . This book was released on 1986 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
