An accurate assessment of the risk of extreme environmental events is of great importance for populations, authorities and the banking/insurance/reinsurance industry. Koch (2017) introduced a notion of spatial risk measure and a corresponding set of axioms which are well suited to analyze the...

The aim of this paper is to measure the efficiency of insurance companies in Saudi Arabia using data envelopment analysis (DEA), to analyse the effectiveness of underwriting processes primarily inputs and outputs are determined. Moreover, this study aims at comparing the efficiency of Takaful...

We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that incorporates the effects of uncertainties associated with climate and the economy from a calibrated DSGE model. We allow for different aversions to risk and intertemporal fluctuations,...

In this paper, we study how the tax-and-transfer system reduces the inequality of lifetime income by redistributing lifetime earnings between individuals with different skill endowments and by providing individuals with insurance against lifetime earnings risk. Based on a dynamic life-cycle...

Redistribution across individuals in a one-year-period framework is an empirically intensely studied question. However, a substantial share of annual redistribution might turn out to serve individual insurance in a longer perspective. In particular, public pensions, that smooth incomes over the...

Financial inclusion and financial literacy are receiving increasing attention for their potential to contribute to economic and financial development while fostering more inclusive growth and greater income equality. In general, the progress of financial inclusion and financial development in...

In this paper we analyze insurance demand when the utility function depends both upon final wealth and the level of losses or gains relative to a reference point. Besides some comparative statics results, we discuss the links with first-order risk aversion, with the Omega measure, and with a...

We develop a parsimonious model to study the equilibrium structure of over-the-counter securities markets. We show that regulations aimed at reducing counterparty risk and improving liquidity can be ineffcient. Such regulations have a direct positive effect on entry in those markets, thus...

The purpose of this paper is to describe the lottery- and insurance-market equilibrium in an economy with non-convex labor supply decision, unobservable effort, and efficiency wages of the no-shirking type a la Shapiro and Stiglitz (1984). The presence of indivisible labor creates a market...

Simonovits Andrásnak a mostani számban közölt vitacikke (Simonovits, 2020) különösen gyors volt, az előző számban közölt tanulmányomra reagált, még annak publikálása előtt úgy, hogy a folyamatosan fejlesztett cikkének aktuális állapotát mindig bemutatta nekem, s néha...

The polemic article of András Simonovits , published in the current issue (Simonovits, 2020), was particularly fast: he reacted to my paper published in the previous issue – even before its publication – by always showing me the current stage of his article while he was continuously...

A tanulmányban az állami nyugdíjrendszer öt fontos javítási lehetőségét írtuk le, amelyek többsége egymástól függetlenül is bevezethető. Ezek: 1. az egyéni számla vagy pontrendszer, 2. egyéni helyett családi nyugdíj, 3. automatikus korhatárindexálás, 4. állami...

A kötet a 2019. június 13-án, a Corvinus Egyetemen tartott hasonló című konferenciaelőadásait, illetve az azok alapján készült tanulmányokat tartalmazza. A címben található „2.0" arra utal, hogy 2012-ben, hasonló címmel, ugyancsak a Corvinus Egyetemen már tartottunk egy...

Tanulmányunkban korábbi, a magyar nyugdíjrendszer fenntarthatóságával kapcsolatos eredményeinkre (Németh et al. 2019) építünk, és kiterjesztjük vizsgálatunkat a Visegrádi országokra, vagyis Magyarország mellett Csehországra, Lengyelországra és Szlovákiára, miközben az...

A Living Longer, Working Smarter, Ageing Well nemzetközi konferencia a Budapesti Corvinus Egyetem EFOP-3.6.2-16-2017-00017 „Fenntartható, intelligens és befogadó regionális és városi modellek” projekt III/1. Halandó alprojektjének szervezésében valósult meg 2020. május 18-19-...

A számítások közönséges legkisebb négyzetekkel becsült lineáris regresszióval és két független részminta hipotézistesztelésével történtek. A születéskor egészségesen várható életkor elméleti maximuma 76,7 évre becsülhető, mely 9,9 év potenciált jelent...

A cikkben bemutatott szakirodalmi áttekintéssel a szerző célja, hogy egy később ismertetésre kerülő kvalitatív kutatás jelentésvilágába előzetes betekintést nyújtson. Vizsgálata középpontjába az egészségügyi szervezetekben tapasztalható együttműködés és bevonás...

Most countries around the world implement some form of a safety net program for poor households. A widespread concern is that such programs crowd out private-sector jobs. But they could also improve workers' welfare by allowing them to take on more risk, for example through self-employment. This...

Formal or informal institutions have long been adopted by societies to protect against opportunistic behavior. However, we know very little about how these institutions are chosen and their impact on behavior. We experimentally investigate the demand for different levels of institutions that...

We analyze the extent to which private defensive litigation insurance deters patent assertion by non-practicing entities (NPEs). We study the effect that a patent-specific defensive insurance product, offered by a leading litigation insurer, had on the litigation behavior of insured patents'...

Formal or informal institutions have long been adopted by societies to protect against opportunistic behavior. However, we know very little about how these institutions are chosen and their impact on behavior. We experimentally investigate the demand for different levels of institutions that...

We propose the use of Bayesian estimation of risk preferences of individuals for applications of behavioral welfare economics to evaluate observed choices that involve risk. Bayesian estimation provides more systematic control of the use of informative priors over inferences about risk...

Formal or informal institutions have long been adopted by societies to protect against opportunistic behavior. However, we know very little about how these institutions are chosen and their impact on behavior. We experimentally investigate the demand for different levels of institutions that...

India's insurance sector has been growing dynamically in the last couple of years. Despite the suite of reforms that have been implemented to stoke the sector's growth, it still has a long way to go, as its share in the global insurance market remains abysmally low. In this paper, we analyse the...

Formal or informal institutions have long been adopted by societies to protect against opportunistic behavior. However, we know very little about how these institutions are chosen and their impact on behavior. We experimentally investigate the demand for different levels of institutions that...