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contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical … insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …
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by the insurance companies were smaller than the losses of banks, we will focus on the risk valuation apllied by these … markets. Since the last major financial crisis had a less devastating impact on the insurance market and the losses suffered … insurance companies. The proper valuation of risks is mirrored in the Solvency Capital Requirement calculated,which under …
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levels, the persistent profitability and the pooling of risk observed in some insurance markets. Furthermore, we find that a …We study a competitive insurance market in which insurers have an imperfect informative advantage over policyholders …. We show that the presence of insurers privately and heterogeneously informed about risk can explain the concentration …
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