beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical … contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …

We study a competitive insurance market in which insurers have an imperfect informative advantage over policyholders … levels, the persistent profitability and the pooling of risk observed in some insurance markets. Furthermore, we find that a … lower market concentration may entail an increase in insurance premia. …

transmission of this information will not cause any concern. Such a form of insurance is based on the principle of mutuality …. Research limitations/implications: Mutuality-based insurance is therefore a path based on solutions of the past (primary forms … of insurance), but at the same time is seen as a response to the lack of adaptation of insurance products to the actual …

to share risk. Central clearing can provide insurance against counterparty risk but must be designed to preserve risk …

to share risk. Central clearing can provide insurance against counterparty risk but must be designed to preserve risk …

security used to hedge the risk is similar to a CAT bond. This work looks at the incentives associated with insurance …

On-demand insurance is an innovative business model from the InsurTech space, which provides coverage for episodic …-possibility frontier outwards. We provide a sufficient condition under which type-specific full insurance at the actuarially fair price is … incentive compatible. We also show that our results hold for various real-world implementations of on-demand insurance …

Preface -- Introduction -- Part 1: History -- Developments in Risk and Insurance Economics: the Past 40 Years -- Part 2 … : Risk and Insurance Theory Without Information Problems -- Higher-Order Risk Attitudes -- Non-Expected Utility and the … Robustness of the Classical Insurance Paradigm -- The Economics of Optimal Insurance Design -- The Effects of Changes in Risk on …