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. …

Insurance for natural hazards - earthquakes, hurricanes, or pandemics - is rarely comprehensively adopted without …. Efforts to close this insurance gap include the introduction of parametric (index) insurance products for various catastrophic … risks. We compare parametric to indemnity insurance in a simple model where the insurance company has superior information …

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

We study an insurance model characterized by a continuum of risk types, private information and a competitive supply …

authors examine whether insurance against college-failure risk can be offered, taking into account moral hazard and adverse … school graduates in the US and use that model to study the feasibility and optimality of offering insurance against college …-failure risk. The authors find that optimal insurance raises the enrollment rate by 3.5 percent, the fraction acquiring a degree by …

We design a novel insurance advice mechanism aimed at promoting trust and cooperation in markets with asymmetric … information. In a buyer-seller game, sellers are given the option to advise buyers on whether to purchase third-party insurance … cooperative and strategic sellers will advise buyers not to purchase the insurance. Once this advice has been given, strategic …

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 …

to mitigate adverse selection and improve insurance market efficiency, but it may have undesirable equity or efficiency … consequences. We employ a canonical screening model of insurance contracting to study these trade-offs in a range of informational …