This book offers a basic reference, new material and teaching supplements to graduate students and researchers in economics, finance and insurance. The book is divided into two main parts. Part 1 contains six survey articles on different subjects that represent significant developments over the past years: optimality of insurance contracting, liability insurance, moral hazard, adverse selection, insurance pricing and econometric estimation of accident distributions. Part 2 extends the recent literature by presenting fourteen essays one different subjects of current research in: (a) the theory of insurance economics covering nonlinear expected utility, prudence, deviant beliefs, incomplete markets, increases in risk, ambiguity; (b) problems of information including moral hazard and competitive markets, adverse selection and probationary periods, incomplete information and risk categorization, and (c) empirical studies on workers' compensation, adverse selection and the effects of no-fault in automobile insurance. Each paper is presented with an abstract and keywords, and can be read independently of the other contributions in the volume.
'In conclusion, I recommend Contributions to Insurance. It does an excellent job of readers of the Journal of Risk and Insurance economics, remind the reader of the advances that are being made, and of equal if not more importance, sets the stage for a future research agenda in this area.' Journal of Risk and Insurance
Series: Huebner International Series on Risk, Insurance and Economic Security
Number Of Pages: 524
Published: 30th April 1992
Country of Publication: NL
Dimensions (cm): 29.7 x 21.0
Weight (kg): 2.08