Foundations of Insurance Economics

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Publisher : Springer Science & Business Media
ISBN 13 : 0792392043
Total Pages : 748 pages
Book Rating : 4.7/5 (923 download)

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Book Synopsis Foundations of Insurance Economics by : Georges Dionne

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.

Handbook of Insurance

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Publisher : Springer Science & Business Media
ISBN 13 : 1461401550
Total Pages : 1133 pages
Book Rating : 4.4/5 (614 download)

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Book Synopsis Handbook of Insurance by : Georges Dionne

Download or read book Handbook of Insurance written by Georges Dionne and published by Springer Science & Business Media. This book was released on 2013-12-02 with total page 1133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.

Contract Theory in Continuous-Time Models

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Publisher : Springer Science & Business Media
ISBN 13 : 3642141994
Total Pages : 258 pages
Book Rating : 4.6/5 (421 download)

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Book Synopsis Contract Theory in Continuous-Time Models by : Jakša Cvitanic

Download or read book Contract Theory in Continuous-Time Models written by Jakša Cvitanic and published by Springer Science & Business Media. This book was released on 2012-09-26 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years there has been a significant increase of interest in continuous-time Principal-Agent models, or contract theory, and their applications. Continuous-time models provide a powerful and elegant framework for solving stochastic optimization problems of finding the optimal contracts between two parties, under various assumptions on the information they have access to, and the effect they have on the underlying "profit/loss" values. This monograph surveys recent results of the theory in a systematic way, using the approach of the so-called Stochastic Maximum Principle, in models driven by Brownian Motion. Optimal contracts are characterized via a system of Forward-Backward Stochastic Differential Equations. In a number of interesting special cases these can be solved explicitly, enabling derivation of many qualitative economic conclusions.

Allocation, Information and Markets

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Publisher : Springer
ISBN 13 : 1349202150
Total Pages : 321 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Allocation, Information and Markets by : John Eatwell

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.

Moral Hazard in Health Insurance

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Publisher : Columbia University Press
ISBN 13 : 0231538685
Total Pages : 161 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Moral Hazard in Health Insurance by : Amy Finkelstein

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

Essays in Accounting Theory in Honour of Joel S. Demski

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Publisher : Springer Science & Business Media
ISBN 13 : 0387303995
Total Pages : 334 pages
Book Rating : 4.3/5 (873 download)

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Book Synopsis Essays in Accounting Theory in Honour of Joel S. Demski by : Rick Antle

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.

Contract Theory

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Publisher : MIT Press
ISBN 13 : 9780262025768
Total Pages : 746 pages
Book Rating : 4.0/5 (257 download)

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Book Synopsis Contract Theory by : Patrick Bolton

Download or read book Contract Theory written by Patrick Bolton and published by MIT Press. This book was released on 2004-12-10 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive introduction to contract theory, emphasizing common themes and methodologies as well as applications in key areas. Despite the vast research literature on topics relating to contract theory, only a few of the field's core ideas are covered in microeconomics textbooks. This long-awaited book fills the need for a comprehensive textbook on contract theory suitable for use at the graduate and advanced undergraduate levels. It covers the areas of agency theory, information economics, and organization theory, highlighting common themes and methodologies and presenting the main ideas in an accessible way. It also presents many applications in all areas of economics, especially labor economics, industrial organization, and corporate finance. The book emphasizes applications rather than general theorems while providing self-contained, intuitive treatment of the simple models analyzed. In this way, it can also serve as a reference for researchers interested in building contract-theoretic models in applied contexts.The book covers all the major topics in contract theory taught in most graduate courses. It begins by discussing such basic ideas in incentive and information theory as screening, signaling, and moral hazard. Subsequent sections treat multilateral contracting with private information or hidden actions, covering auction theory, bilateral trade under private information, and the theory of the internal organization of firms; long-term contracts with private information or hidden actions; and incomplete contracts, the theory of ownership and control, and contracting with externalities. Each chapter ends with a guide to the relevant literature. Exercises appear in a separate chapter at the end of the book.

The Theory of Incentives

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Publisher : Princeton University Press
ISBN 13 : 1400829453
Total Pages : 436 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The Theory of Incentives by : Jean-Jacques Laffont

Download or read book The Theory of Incentives written by Jean-Jacques Laffont and published by Princeton University Press. This book was released on 2009-12-27 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics has much to do with incentives--not least, incentives to work hard, to produce quality products, to study, to invest, and to save. Although Adam Smith amply confirmed this more than two hundred years ago in his analysis of sharecropping contracts, only in recent decades has a theory begun to emerge to place the topic at the heart of economic thinking. In this book, Jean-Jacques Laffont and David Martimort present the most thorough yet accessible introduction to incentives theory to date. Central to this theory is a simple question as pivotal to modern-day management as it is to economics research: What makes people act in a particular way in an economic or business situation? In seeking an answer, the authors provide the methodological tools to design institutions that can ensure good incentives for economic agents. This book focuses on the principal-agent model, the "simple" situation where a principal, or company, delegates a task to a single agent through a contract--the essence of management and contract theory. How does the owner or manager of a firm align the objectives of its various members to maximize profits? Following a brief historical overview showing how the problem of incentives has come to the fore in the past two centuries, the authors devote the bulk of their work to exploring principal-agent models and various extensions thereof in light of three types of information problems: adverse selection, moral hazard, and non-verifiability. Offering an unprecedented look at a subject vital to industrial organization, labor economics, and behavioral economics, this book is set to become the definitive resource for students, researchers, and others who might find themselves pondering what contracts, and the incentives they embody, are really all about.

Computational Complexity

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Publisher : Springer
ISBN 13 : 9781461417996
Total Pages : 0 pages
Book Rating : 4.4/5 (179 download)

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Book Synopsis Computational Complexity by : Robert A. Meyers

Download or read book Computational Complexity written by Robert A. Meyers and published by Springer. This book was released on 2011-10-19 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Complex systems are systems that comprise many interacting parts with the ability to generate a new quality of collective behavior through self-organization, e.g. the spontaneous formation of temporal, spatial or functional structures. These systems are often characterized by extreme sensitivity to initial conditions as well as emergent behavior that are not readily predictable or even completely deterministic. The recognition that the collective behavior of the whole system cannot be simply inferred from an understanding of the behavior of the individual components has led to the development of numerous sophisticated new computational and modeling tools with applications to a wide range of scientific, engineering, and societal phenomena. Computational Complexity: Theory, Techniques and Applications presents a detailed and integrated view of the theoretical basis, computational methods, and state-of-the-art approaches to investigating and modeling of inherently difficult problems whose solution requires extensive resources approaching the practical limits of present-day computer systems. This comprehensive and authoritative reference examines key components of computational complexity, including cellular automata, graph theory, data mining, granular computing, soft computing, wavelets, and more.

Proceedings of the Fourteenth Annual ACM-SIAM Symposium on Discrete Algorithms

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Publisher : SIAM
ISBN 13 : 9780898715385
Total Pages : 896 pages
Book Rating : 4.7/5 (153 download)

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Book Synopsis Proceedings of the Fourteenth Annual ACM-SIAM Symposium on Discrete Algorithms by :

Download or read book Proceedings of the Fourteenth Annual ACM-SIAM Symposium on Discrete Algorithms written by and published by SIAM. This book was released on 2003-01-01 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the January 2003 symposium come just over 100 papers addressing a range of topics related to discrete algorithms. Examples of topics covered include packing Steiner trees, counting inversions in lists, directed scale-free graphs, quantum property testing, and improved results for directed multicut. The papers were not formally refereed, but attempts were made to verify major results. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com)

The New Dynamic Public Finance

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Publisher : Princeton University Press
ISBN 13 : 1400835275
Total Pages : 230 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The New Dynamic Public Finance by : Narayana R. Kocherlakota

Download or read book The New Dynamic Public Finance written by Narayana R. Kocherlakota and published by Princeton University Press. This book was released on 2010-07-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on this question either ignored people's uncertainty about their future productivities or imposed strong and unrealistic functional form restrictions on taxes. In response to these problems, the new dynamic public finance was developed to study the design of optimal taxes given only minimal restrictions on the set of possible tax instruments, and on the nature of shocks affecting people in the economy. In this book, Narayana Kocherlakota surveys and discusses this exciting new approach to public finance. An important book for advanced PhD courses in public finance and macroeconomics, The New Dynamic Public Finance provides a formal connection between the problem of dynamic optimal taxation and dynamic principal-agent contracting theory. This connection means that the properties of solutions to principal-agent problems can be used to determine the properties of optimal tax systems. The book shows that such optimal tax systems necessarily involve asset income taxes, which may depend in sophisticated ways on current and past labor incomes. It also addresses the implications of this new approach for qualitative properties of optimal monetary policy, optimal government debt policy, and optimal bequest taxes. In addition, the book describes computational methods for approximate calculation of optimal taxes, and discusses possible paths for future research.

The Microeconomics of Insurance

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Publisher : Now Publishers Inc
ISBN 13 : 1601981082
Total Pages : 178 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis The Microeconomics of Insurance by : Ray Rees

Download or read book The Microeconomics of Insurance written by Ray Rees and published by Now Publishers Inc. This book was released on 2008 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this relatively short survey, we present the core elements of the microeconomic analysis of insurance markets at a level suitable for senior undergraduate and graduate economics students. The aim of this analysis is to understand how insurance markets work, what their fundamental economic functions are, and how efficiently they may be expected to carry these out.

Automobile Insurance: Road Safety, New Drivers, Risks, Insurance Fraud and Regulation

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Publisher : Springer Science & Business Media
ISBN 13 : 9780792383949
Total Pages : 388 pages
Book Rating : 4.3/5 (839 download)

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Book Synopsis Automobile Insurance: Road Safety, New Drivers, Risks, Insurance Fraud and Regulation by : Georges Dionne

Download or read book Automobile Insurance: Road Safety, New Drivers, Risks, Insurance Fraud and Regulation written by Georges Dionne and published by Springer Science & Business Media. This book was released on 1999 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Motor vehicle accidents are still a leading cause of death, even if the trend has somewhat declined over the past 20 years. Indeed, motor vehicle accidents are a significant cause of death in comparison with air and space transport accidents, homicides and even HIV infections, causes which are more often highlighted in the media. As shown in this book, motor vehicle accidents are particularly damaging to very young drivers. The assessment of driving risks is a common concern for road transportation safety and the automobile insurance industry. In both cases, there is an awareness of the great losses resulting from the deaths, injuries and property damage caused by traffic accidents. Research is essential to counteract this public health threat, to assess the success or failure of countermeasures, and to solve the problems it generates in the insurance industry. This book is for people concerned about road crashes (prevention and compensation) and about the insurance problems they pose - namely private and public institutional authorities, consultants, administrators, practitioners, and researchers interested in sharing the authors' experience in this domain. The book presents original contributions related to motor vehicle insurance and road safety. All papers have been evaluated by external referees. Four subjects are covered: 1) Automobile Insurance Pricing, Risks and Asymmetric Information; 2) Insurance Fraud; 3) Young Drivers: Licensing Policies, Evaluation and Risks; and 4) Road Insurance Regulation.

The Theory of Corporate Finance

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Publisher : Princeton University Press
ISBN 13 : 1400830222
Total Pages : 657 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The Theory of Corporate Finance by : Jean Tirole

Download or read book The Theory of Corporate Finance written by Jean Tirole and published by Princeton University Press. This book was released on 2010-08-26 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Magnificent."—The Economist From the Nobel Prize–winning economist, a groundbreaking and comprehensive account of corporate finance Recent decades have seen great theoretical and empirical advances in the field of corporate finance. Whereas once the subject addressed mainly the financing of corporations—equity, debt, and valuation—today it also embraces crucial issues of governance, liquidity, risk management, relationships between banks and corporations, and the macroeconomic impact of corporations. However, this progress has left in its wake a jumbled array of concepts and models that students are often hard put to make sense of. Here, one of the world's leading economists offers a lucid, unified, and comprehensive introduction to modern corporate finance theory. Jean Tirole builds his landmark book around a single model, using an incentive or contract theory approach. Filling a major gap in the field, The Theory of Corporate Finance is an indispensable resource for graduate and advanced undergraduate students as well as researchers of corporate finance, industrial organization, political economy, development, and macroeconomics. Tirole conveys the organizing principles that structure the analysis of today's key management and public policy issues, such as the reform of corporate governance and auditing; the role of private equity, financial markets, and takeovers; the efficient determination of leverage, dividends, liquidity, and risk management; and the design of managerial incentive packages. He weaves empirical studies into the book's theoretical analysis. And he places the corporation in its broader environment, both microeconomic and macroeconomic, and examines the two-way interaction between the corporate environment and institutions. Setting a new milestone in the field, The Theory of Corporate Finance will be the authoritative text for years to come.

Readings in the Economics of Contract Law

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Publisher : Cambridge University Press
ISBN 13 : 9780521349208
Total Pages : 270 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Readings in the Economics of Contract Law by : Victor P. Goldberg

Download or read book Readings in the Economics of Contract Law written by Victor P. Goldberg and published by Cambridge University Press. This book was released on 1989 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection brings together some of the main contributions to an important area of this work, the economics of contract law.

How Adverse Selection Affects the Health Insurance Market

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4./5 ( download)

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Book Synopsis How Adverse Selection Affects the Health Insurance Market by : Paolo Belli

Download or read book How Adverse Selection Affects the Health Insurance Market written by Paolo Belli and published by World Bank Publications. This book was released on 2001 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: There may be a price to pay (in terms of inefficient coverage) if competition among health insurers is encouraged as a way to give patients greater choice and to achieve better control over insurance providers.

Intermediate Microeconomics

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (123 download)

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Book Synopsis Intermediate Microeconomics by : Patrick M. Emerson

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: