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Norms, incentives and information in income insurance

Lindbeck, Assar; Persson, Mats - 2015

In this paper, we ask under what conditions norms can enhance welfare by mitigating moral hazard in income insurance … social norms and internalized norms. We study how optimal insurance arrangements, the behavior of insured individuals, and …

Persistent link: https://www.econbiz.de/10010482983

Characterization and uniqueness of equilibrium in competitive insurance

Luz, Vitor Farinha - In: Theoretical economics : TE ; an open access journal in … 12 (2017) 3, pp. 1349-1391

's (1976) model of competitive insurance. I allow for stochastic contract offers by insurance firms and show that a unique …

Persistent link: https://www.econbiz.de/10011744297

Separating Moral Hazard from Adverse Selection: Evidence from the U.S. Federal Crop Insurance Program

Roberts, Michael J.; O'Donoghue, Erik; Key, Nigel - Department of Economics, University of Hawaii-Manoa - 2014

the distribution of crop yields changed as individual farmers shifted into and out of the federal crop insurance program … enrollment incrop insurance. Because differences between farmer and land types have been accounted for (i.e., controlling for … find insurance is associated with statistically signicant but small downward shifts in average yield. The largest shifts …

Persistent link: https://www.econbiz.de/10010756159

Better safe than sorry? : ex ante and ex post moral hazard in dynamic insurance data

Abbring, Jaap H.; Chiappori, Pierre-André; Zavadil, Tibor - 2008

This paper empirically analyzes moral hazard in car insurance using a dynamic theory of an insuree's dynamic risk (ex …

Persistent link: https://www.econbiz.de/10011376656

Nitpicky insurers and the law of contracts

Bourgeon, Jean-Marc; Picard, Pierre M. - 2017

that hardly explains the many features of an insurance contract. We extend this setup to include the situation that the … show how the law of insurance contracts should allow insurers to incentivize policyholders to exert an adequate level of …

Persistent link: https://www.econbiz.de/10011723471

Second-Degree Moral Hazard in a Real-World Credence Goods Market

Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias - 2013 - This version: 16 October 2013

Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market outcomes, thus ignoring possible repercussions. We present a field experiment in which we consider a phenomenon that we call second-degree moral hazard - the tendency of the supply...

Persistent link: https://www.econbiz.de/10010193289

Second-degree moral hazard in a real-world credence goods market

Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias - 2013 - This version: 16 October 2013

Persistent link: https://www.econbiz.de/10010199693

Second-degree moral hazard in a real-world credence goods market

Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias - 2013

Persistent link: https://www.econbiz.de/10010207314

The multi-faceted concept of transparency

Forssbæck, Jens; Oxelheim, Lars - 2014

Transparency has become a catchword and in the economic-political debate is often seen as a universal remedy for all sorts of problems. In this paper, we analyze and discuss the meaning and use of the concept of transparency in economic research. We look for common denominators across different...

Persistent link: https://www.econbiz.de/10010393290

Outside collateral, preserving the value of inside collateral and sorting

Schäfer, Dorothea - 2001

Within a framework of debt renegotiation and a priori private information, what is the role of outside and inside collateral? The literature shows that unobservability of the project’s returns implies that the high-risk borrower is more inclined to pledge outside collateral than is the...

Persistent link: https://www.econbiz.de/10011489185