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Author : Peter-Jürgen Jost
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (46 download)
Download or read book Adverse selection in moral hazard situations written by Peter-Jürgen Jost and published by . This book was released on 1988 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Amy Finkelstein
Publisher : Columbia University Press
ISBN 13 : 0231538685
Total Pages : 161 pages
Book Rating : 4.2/5 (315 download)
Download or read book Moral Hazard in Health Insurance written by Amy Finkelstein and published by Columbia University Press. This book was released on 2014-12-02 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the challenge of covering heath care expenses—while minimizing economic risks. Moral hazard—the tendency to change behavior when the cost of that behavior will be borne by others—is a particularly tricky question when considering health care. Kenneth J. Arrow’s seminal 1963 paper on this topic (included in this volume) was one of the first to explore the implication of moral hazard for health care, and Amy Finkelstein—recognized as one of the world’s foremost experts on the topic—here examines this issue in the context of contemporary American health care policy. Drawing on research from both the original RAND Health Insurance Experiment and her own research, including a 2008 Health Insurance Experiment in Oregon, Finkelstein presents compelling evidence that health insurance does indeed affect medical spending and encourages policy solutions that acknowledge and account for this. The volume also features commentaries and insights from other renowned economists, including an introduction by Joseph P. Newhouse that provides context for the discussion, a commentary from Jonathan Gruber that considers provider-side moral hazard, and reflections from Joseph E. Stiglitz and Kenneth J. Arrow. “Reads like a fireside chat among a group of distinguished, articulate health economists.” —Choice
Author : Chandra S. Mishra
Publisher : Springer
ISBN 13 : 1137371463
Total Pages : 520 pages
Book Rating : 4.1/5 (373 download)
Download or read book The Theory of Entrepreneurship written by Chandra S. Mishra and published by Springer. This book was released on 2014-12-04 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Theory of Entrepreneurship examines the interiors of the entrepreneurial value creation process, and offers a new unified and comprehensive theory to afford empirical investigations as well as delineate a broader view of the entrepreneurial contextual milieu.
Author : Tom Baker
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Containing the Promise of Insurance written by Tom Baker and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This essay extends to adverse selection the critical attention provided in prior work to moral hazard. Like moral hazard, adverse selection is an old insurance concept that was adopted, formalized and generalized by economists developing the economics of information. As with moral hazard, insurance economics has addressed the phenomenon of adverse selection largely from the insurers' point of view. This essay examines how insurers create and shape adverse selection. At least in the context of insurance risk classification, there is much to be gained in thinking of adverse selection as a 'dual' problem (similar to moral hazard), meaning that actions to address adverse selection problems can lead to the de-pooling effect that motivated the actions in the first place. The first part of the essay sets forth the case for understanding adverse selection as a dual problem and highlights alternatives to insurance risk classification. The second uses three historical examples to explore moral justifications for insurance risk classification. The three examples are the 19th century controversy over age-based pricing in fraternal insurance, the mid 20th century controversy over experience rating in unemployment insurance, and the late 20th century controversy over efforts to exclude battered women from life, health and disability insurance pools. These examples demonstrate that, rather than being a neutral, technical solution to a structural dynamic inherent in the insurance relationship, risk classification reflects moral commitments.
Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 579 pages
Book Rating : 4.:/5 (661 download)
Download or read book Moral Hazard written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-03 with total page 579 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Moral Hazard The term "moral hazard" refers to a circumstance that occurs in the field of economics and describes a situation in which an economic actor has an incentive to expand its exposure to risk because it does not face the full costs of that risk. As an illustration, when a company is insured, it may be willing to take on additional risk since it is aware that its insurance will cover the costs connected with the risk. It is possible for a moral hazard to take place when, after a financial transaction has taken place, the actions of the party that is taking the risk change in a way that is detrimental to the party that is suffering the costs. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Moral hazard Chapter 2: Economic bubble Chapter 3: Debt Chapter 4: Contract theory Chapter 5: Adverse selection Chapter 6: Information asymmetry Chapter 7: Savings and loan crisis Chapter 8: Asset-backed security Chapter 9: Mortgage loan Chapter 10: Subprime mortgage crisis Chapter 11: Flight-to-quality Chapter 12: Subordinated debt Chapter 13: Subprime crisis impact timeline Chapter 14: Credit crunch Chapter 15: Subprime crisis background information Chapter 16: Interbank lending market Chapter 17: Government policies and the subprime mortgage crisis Chapter 18: Subprime mortgage crisis solutions debate Chapter 19: Securitization Chapter 20: Financial fragility Chapter 21: 2007-2008 financial crisis (II) Answering the public top questions about moral hazard. (III) Real world examples for the usage of moral hazard in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Moral Hazard.
Author : Zhiqiang Yan
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (13 download)
Download or read book Insurance Contracting with the Coexistence of Adverse Selection and Moral Hazard written by Zhiqiang Yan and published by . This book was released on 2014 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The asymmetric information problem has been widely discussed in the context of insurance markets. Most of previous research usually treats adverse selection and moral hazard separately, though it is quite possible that they may coexist and interact with each other. In this paper, we build a principal-agent model to examine optimal contracts in a competitive insurance market facing adverse selection and moral hazard simultaneously. We apply the change-of-variable method and the Kuhn-Tucker conditions to solve the optimization programs and find that there are several forms of separating Nash equilibria, although separating Nash equilibria may not exist. Our model brings richer equilibria and retains some properties in the benchmark models of pure adverse selection and pure moral hazard. For example, no agent is offered full insurance, and the positive correlation between insurance coverage and risk type still holds. Our study on comparative statics indicates that, under some conditions, the optimal indemnity and premium, in general, decrease with the disutility, increase with the potential loss and decrease with the intial wealth of the insured.
Author : Georges Dionne
Publisher : Springer Science & Business Media
ISBN 13 : 0792392043
Total Pages : 748 pages
Book Rating : 4.7/5 (923 download)
Download or read book Foundations of Insurance Economics written by Georges Dionne and published by Springer Science & Business Media. This book was released on 1992 with total page 748 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.
Author : Rick Antle
Publisher : Springer Science & Business Media
ISBN 13 : 0387303995
Total Pages : 334 pages
Book Rating : 4.3/5 (873 download)
Download or read book Essays in Accounting Theory in Honour of Joel S. Demski written by Rick Antle and published by Springer Science & Business Media. This book was released on 2007-02-15 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: The integration of accounting and the economics of information developed by Joel S. Demski and those he inspired has revolutionized accounting thought. This volume collects papers on accounting theory in honor of Professor Demski. The book also contains an extensive review of Professor Demski’s own contributions to the theory of accounting over the past four decades.
Author : Guy Thomas
Publisher : Cambridge University Press
ISBN 13 : 110710033X
Total Pages : 285 pages
Book Rating : 4.1/5 (71 download)
Download or read book Loss Coverage written by Guy Thomas and published by Cambridge University Press. This book was released on 2017-05-11 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: A novel book that argues that, contrary to received wisdom, some adverse selection in insurance markets is beneficial to society as a whole. It is for all those interested in public policy arguments about insurance and discrimination: policymakers, academics, actuaries, underwriters, disability activists, geneticists and other medical professionals.
Author : Danan Gu
Publisher : Springer
ISBN 13 : 9783030220082
Total Pages : 5507 pages
Book Rating : 4.2/5 (2 download)
Download or read book Encyclopedia of Gerontology and Population Aging written by Danan Gu and published by Springer. This book was released on 2021-11-03 with total page 5507 pages. Available in PDF, EPUB and Kindle. Book excerpt: This eight-volume encyclopedia brings together a comprehensive collection of work highlighting established research and emerging science in all relevant disciplines in gerontology and population aging. It covers the breadth of the field, gives readers access to all major sub-fields, and illustrates their interconnectedness with other disciplines. With more than 1300 cross-disciplinary contributors—including anthropologists, biologists, economists, psychiatrists, public policy experts, sociologists, and others—the encyclopedia delves deep into key areas of gerontology and population aging such as ageism, biodemography, disablement, longevity, long-term care, and much more. Paying careful attention to empirical research and literature from around the globe, the encyclopedia is of interest to a wide audience that includes researchers, teachers and students, policy makers, (non)governmental agencies, public health practitioners, business planners, and many other individuals and organizations.
Author : Patrick M. Emerson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (123 download)
Download or read book Intermediate Microeconomics written by Patrick M. Emerson and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Eatwell
Publisher : Springer
ISBN 13 : 1349202150
Total Pages : 321 pages
Book Rating : 4.3/5 (492 download)
Download or read book Allocation, Information and Markets written by John Eatwell and published by Springer. This book was released on 1989-09-21 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This volume concentrates on the topic of allocation information and markets.
Author :
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (933 download)
Download or read book Adverse Selection and Moral Hazard with Risk-neutral Agent written by and published by . This book was released on 1980 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jay Charles Stewart
Publisher :
ISBN 13 :
Total Pages : 286 pages
Book Rating : 4.:/5 (193 download)
Download or read book Two Essays on the Economics of Adverse Selection and Moral Hazard written by Jay Charles Stewart and published by . This book was released on 1989 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Georges Dionne
Publisher :
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (229 download)
Download or read book Dealing with Moral Hazard and Adverse Selection Simultaneously written by Georges Dionne and published by . This book was released on 1988 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel Gottlieb
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Simple Contracts with Adverse Selection and Moral Hazard written by Daniel Gottlieb and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study a principal-agent model with both moral hazard and adverse selection. Risk-neutral agents with limited liability have arbitrary private information about the distribution of outputs and the cost of effort. We obtain conditions under which the optimal mechanism offers a single contract to all types. These conditions are always satisfied, for example, if output is binary or if the distribution of outputs is multiplicatively separable and ordered by FOSD (if it is not ordered, the optimal mechanism offers at most two contracts). If, in addition, the marginal distribution satisfies the monotone likelihood ratio property, this single contract is a debt contract. Our model suggests that offering a single contract may be optimal in environments with adverse selection and moral hazard, where offering flexible menus of contracts provides gaming opportunities to the agent.
Author : Anthony Creane
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (258 download)
Download or read book Adverse selection, moral hazard and entry written by Anthony Creane and published by . This book was released on 1995 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
