Abstract This study examines whether the introduction of compulsory bicycle liability insurance is socially desirable when evaluation bias—the difference between the objective and subjective evaluations of liability amounts—exists. The main results of this study are summarized as follows....

Abstract Using a game-theoretic analysis, this study aims to investigate which of the “all or nothing” and “pro rata” methods, regarding the sanction against the breach of duty to disclose in insurance contracts by negligence, is better from two perspectives: one is in terms of how much...

The purpose of this research is to discuss Japanese financial instability and both private life insurance and public life insurance (Kampo) demand. At the same time, we also consider Kampo’s main role and what Kampo should be as an insurance service provider in the future. From empirically...

This study examines the relationship between incentive contracts for managers and the allocation of efforts by the managers as well as the stock market’s role in monitoring allocation of the efforts. It also evaluates solvency regulation in Japan and its effects on the compensation of a manager...

This article analyzes the life and nonlife insurance markets with horizontal differentiation and brand loyalties using a spatial competition model. We construct a three-stage game that includes sales promotion in the first stage, insurance product characteristics in the second stage, and...

Purpose – The purpose of this paper is to discuss whether insurers could have a strong motivation for M&A in the future because they need to survive within the industry under oversaturated market conditions. Recently, Japanese non‐life insurance markets, mainly the automobile insurance...

Purpose – The purpose of this paper is to investigate the insurance market in which moral hazard and insurance fraud coexist. In this situation, this research examines the relationship between moral hazard and insurance fraud. Also, this research shows how the amount of policyholder's effort...