Imperfect insurance markets: an economic analysis of externalities and consumer diversity
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
Karlsruhe, Baden
Verl. Versicherungswirtschaft
2009
|
| Schriftenreihe: | Veröffentlichungen des Seminars für Versicherungswissenschaft der Universität Hamburg und des Vereins zur Förderung der Versicherungswissenschaft in Hamburg e.V. / B
20 |
| Schlagworte: | |
| Online-Zugang: | Inhaltstext kostenfrei Zentralblatt MATH Inhaltsverzeichnis |
| Beschreibung: | Literaturverz. S. 157 - 172 |
| Beschreibung: | XVII, 172 S. 21 cm |
| ISBN: | 9783899524598 |
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Datensatz im Suchindex
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Titel: Imperfect insurance markets
Autor: Hofmann, Annette
Jahr: 2009
Contents
List of Figures XV
List of Tables XVII
1 Introduction 1
2 Foundations of Insurance Economics under Perfect
Information 13
2.1 Risk Aversion and the Expected-Utility Framework . 13
2.2 A Basic Model of Insurance Demand. 19
2.2.1 Proportional Coinsurance . 20
2.2.2 Comparative Statics in the Coinsurance Problem . 25
2.2.3 Discussion. 27
2.3 Loss Reduction and Loss Prevention . 31
2.3.1 Loss Reduction (Self-Insurance). 31
2.3.2 Loss Prevention (Self-Protection). 33
2.3.3 Discussion. 35
3 Interdependent Risks 41
3.1 Introduction. 41
3.2 Related Literature . 45
3.3 Model Structure. 48
3.3.1 A Setting for Two Agents. 50
XI
CONTENTS
3.3.2 A Setting for Multiple Agents. 52
3.4 Compulsory Insurance Monopoly. 58
3.5 Intemalization of Externalities. 62
3.6 Discussion. 69
3.6.1 Continuous Loss Prevention. 70
3.6.2 Liability Rules . 70
3.6.3 Insurance Regulation. 72
3.6.4 Positive Externalities. 73
3.7 Conclusion. 74
4 Oligopolistic Competition 77
4.1 Introduction. 77
4.2 Related Literature . 79
4.3 Model Structure. 80
4.4 Costly Consumer Search. 84
4.5 Failure of Pure-Strategy Equilibrium. 86
4.6 Conclusion. 91
5 Intermediation 93
5.1 Introduction. 93
5.2 Related Literature . 95
5.3 Insurance Market with Intermediation . 97
5.3.1 Fee-for-Advice System. 98
5.3.2 Commission System. 101
5.4 Social Welfare. 103
5.5 Discussion. 105
5.5.1 Contingent Commissions. 105
5.5.2 A Simultaneous Game under Miscounseling . 108
XII
CONTENTS
5.5.3 Collusion . Ill
5.5.4 Mergers and Concentration . 115
5.5.5 Other Informational Asymmetries. 117
5.6 Conclusion. 120
5.7 Appendix to Chapter 5. 124
6 Optimal Monopoly Pricing under Imperfect
Information 127
6.1 Introduction. 127
6.2 Related Literature . 129
6.3 Model Structure. 132
6.4 Fixed Loadings. 135
6.5 Proportional Loadings. 137
6.6 Combination of Loadings. 141
6.7 Conclusion. 143
6.8 Appendix to Chapter 6. 146
6.8.1 Numerical Examples to Section 6.4. 146
6.8.2 Numerical Examples to Section 6.5. 148
6.8.3 Proofs of (6.14), (6.15) and (6.17) in Section 6.5 . . 153
Bibliography 157
XIII
List of Figures
3.1 Nash equilibrium c* and excess of expected utility ty(c). . . 56
3.2 Social welfare under interdependent risks. 57
4.1 Sequence of play. 85
4.2 Bertrand equilibrium at 5 = 0. 86
4.3 Informed consumers' purchase decision. 87
4.4 Failure of pure strategy equilibrium under 6 € (0,1). 90
5.1 Sequence of events with intermediation. 98
5.2 Full-information Nash equilibrium in pure strategies. . . . 101
5.3 Mismatched consumers in a symmetric misselling equilibrium.Ill
5.4 Position of a consumer on the Salop-circle. 116
6.1 Expected profit under combination of loadings. 142
6.2 Insurance demand under uniformly distributed risk prefer-
ences. 147
6.3 Insurance demand under normally distributed risk preferences. 148
6.4 Insurance coverage ratio for W = 100, L = 50 and p = 0,25. 151
6.5 Demand under prop, loading for W = 100, L = 50, p = 0,25.152
6.6 Exp. profit under prop, loading for W — 100, L = 50,
p = 0,25. 153
XV
List of Tables
3.1 Payoff matrix of expected utilities in a two-agent game. . . 51
6.1 Profit increase under normal (and kinked) root utility func-
tions. 144
xvn |
| any_adam_object | 1 |
| author | Hofmann, Annette |
| author_facet | Hofmann, Annette |
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| dewey-full | 330 368 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 330 - Economics 368 - Insurance |
| dewey-raw | 330 368 |
| dewey-search | 330 368 |
| dewey-sort | 3330 |
| dewey-tens | 330 - Economics 360 - Social problems and services; associations |
| discipline | Soziologie Wirtschaftswissenschaften |
| format | Thesis Book |
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| spelling | Hofmann, Annette Verfasser aut Imperfect insurance markets an economic analysis of externalities and consumer diversity Annette Hofmann Karlsruhe, Baden Verl. Versicherungswirtschaft 2009 XVII, 172 S. 21 cm txt rdacontent n rdamedia nc rdacarrier Veröffentlichungen des Seminars für Versicherungswissenschaft der Universität Hamburg und des Vereins zur Förderung der Versicherungswissenschaft in Hamburg e.V. / B 20 Literaturverz. S. 157 - 172 Zugl.: Hamburg, Univ., Diss., 2009 Unvollkommener Markt (DE-588)4062060-8 gnd rswk-swf Versicherungsmarkt (DE-588)4137895-7 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Versicherungsmarkt (DE-588)4137895-7 s Unvollkommener Markt (DE-588)4062060-8 s DE-188 B Veröffentlichungen des Seminars für Versicherungswissenschaft der Universität Hamburg und des Vereins zur Förderung der Versicherungswissenschaft in Hamburg e.V. 20 (DE-604)BV000905099 20 text/html http://deposit.dnb.de/cgi-bin/dokserv?id=3313383&prov=M&dok_var=1&dok_ext=htm Inhaltstext DE-601 pdf/application http://www.gbv.de/dms/zbw/601547381.pdf kostenfrei Inhaltsverzeichnis DE-601 pdf/application http://www.zentralblatt-math.org/zmath/en/search/?an=1167.91302 Zentralblatt MATH kostenfrei Inhaltstext HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020798604&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Hofmann, Annette Imperfect insurance markets an economic analysis of externalities and consumer diversity Unvollkommener Markt (DE-588)4062060-8 gnd Versicherungsmarkt (DE-588)4137895-7 gnd |
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| title | Imperfect insurance markets an economic analysis of externalities and consumer diversity |
| title_auth | Imperfect insurance markets an economic analysis of externalities and consumer diversity |
| title_exact_search | Imperfect insurance markets an economic analysis of externalities and consumer diversity |
| title_full | Imperfect insurance markets an economic analysis of externalities and consumer diversity Annette Hofmann |
| title_fullStr | Imperfect insurance markets an economic analysis of externalities and consumer diversity Annette Hofmann |
| title_full_unstemmed | Imperfect insurance markets an economic analysis of externalities and consumer diversity Annette Hofmann |
| title_short | Imperfect insurance markets |
| title_sort | imperfect insurance markets an economic analysis of externalities and consumer diversity |
| title_sub | an economic analysis of externalities and consumer diversity |
| topic | Unvollkommener Markt (DE-588)4062060-8 gnd Versicherungsmarkt (DE-588)4137895-7 gnd |
| topic_facet | Unvollkommener Markt Versicherungsmarkt Hochschulschrift |
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