This paper explores the impact of deregulation of licensing on an oligopoly insurance market. We show that deregulation of licensing in a Stackelberg-type oligopoly market may not have any impact on the leader’s output if the number of firms increases but the market structure remains. On the...

Using firm-level data from the Internal Revenue Service Form 5500, this paper provides new evidence of the substitution and supplemental effects between 401(k) plans and other employers' pension plans for longstanding firms. By comparing employers' pension plan choices between 1985 and 1996, we...

Using unique bancassurance data from Taiwan, we examine whether banks improve their scope economies by engaging in bancassurance activities. We adopt an econometric approach to identify the relation between economies of scope and bancassurance. The empirical results show that higher involvement...

This paper extends the research about the impact of an increase in background risk from cases with one decision variable to those with two decision variables. We apply the results of Eeckhoudt and Kimball (1992) to examine the comparative statics of an increase in background risk on demand for...