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Author : Mark V. Pauly
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (153 download)
Download or read book Truth about Moral Hazard and Adverse Selection written by Mark V. Pauly and published by . This book was released on 2007 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark V. Pauly
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Truth About Moral Hazard and Adverse Selection written by Mark V. Pauly and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This brief is actually going to have two levels. One level will go with the advertised title, and I'll tell you my current views on the truth about moral hazard and adverse selection. Adverse selection will serve as somewhat of a handmaid of moral hazard, as you will see. That's one level. The other level, though, which continues to surprise me, is that these two topics - they're two buzzwords from insurance theory - have generated an enormous amount of policy interest and, yes, passion. Some people passionately believe some things about moral hazard that others passionately disbelieve. And so as part of this second level I will draw back a bit from the actual subject matter to ask a kind of positive public policy question: Why is it that some people can get so passionate about a subject that seems fairly esoteric?
Author : Bertrand Claude Lemennicier
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book What is Wrong with Moral Hazard and Adverse Selection Problems in the Conventional Economic Theory written by Bertrand Claude Lemennicier and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to challenge the conventional theory of moral hazard and adverse selection. Moral hazard and adverse selection problems in contemporary economic theory are plagued with four major flaws: 1) the alleged asymmetrical information between buyer and seller as a problem in the coordination process of the market; 2) the confusion between di fferent concepts or defi nitions of probability: case or class probabilities, pure subjective beliefs on the occurrence of an event or relative prices on betting markets; 3) the presupposed inability of actors (sellers and buyers) to solve by themselves the problems they face, 4) the pretense of economists to be able to correct these so-called market failures with compulsory insurance without creating new moral hazard and/or adverse selection problems worse than the ones they want to cure. We center our paper mainly on the internal and theoretical inconsistency of the canonical model developed by Akerlof and Rothschild and Stiglitz's theory and their followers based on additive or non additive expected utility associated with the subjective versus frequency tradition in statistics. As an alternative, we propose to approach these phenomena through the eye glasses of betting markets an securitization of insurance contracts.
Author : Juan Flores Zendejas
Publisher : Routledge
ISBN 13 : 1000515028
Total Pages : 167 pages
Book Rating : 4.0/5 (5 download)
Download or read book Moral Hazard written by Juan Flores Zendejas and published by Routledge. This book was released on 2021-12-30 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: Moral Hazard is a core concept in economics. In a nutshell, moral hazard reflects the reduced incentive to protect against risk where an entity is (or believes it will be) protected from its consequences, whether through an insurance arrangement or an implicit or explicit guarantee system. It is fundamentally driven by information asymmetry, arises in all sectors of the economy, including banking, medical insurance, financial insurance, and governmental support, undermines the stability of our economic systems and has burdened taxpayers in all developed countries, resulting in significant costs to the community. Despite the seriousness and pervasiveness of moral hazard, policymakers and scholars have failed to address this issue. This book fills this gap. It covers 200 years of moral hazard: from its origins in the 19th century to the bailouts announced in the aftermath of the COVID-19 outbreak. The book is divided into three parts. Part I deals with the ethics and other fundamental issues connected to moral hazard. Part II provides historical and empirical evidence on moral hazard in international finance. It examines in turn the role of the export credit industry, the international lender of last resort, and the IMF. Finally, Part III examines specific sectors such as automobile, banking, and the US industry at large. This is the first book to provide an interdisciplinary analysis of moral hazard and explain why addressing this issue has become crucial today. As such, it will attract interest from scholars across different fields, including economists, political scientists and lawyers.
Author : Patricia M. Danzon
Publisher : OUP USA
ISBN 13 : 0199742995
Total Pages : 618 pages
Book Rating : 4.1/5 (997 download)
Download or read book The Oxford Handbook of the Economics of the Biopharmaceutical Industry written by Patricia M. Danzon and published by OUP USA. This book was released on 2012-04-24 with total page 618 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the economics of the biopharmaceutical industry, with eighteen chapters by health economists.
Author : Mario Morroni
Publisher : Springer
ISBN 13 : 331998621X
Total Pages : 206 pages
Book Rating : 4.3/5 (199 download)
Download or read book What Is the Truth About the Great Recession and Increasing Inequality? written by Mario Morroni and published by Springer. This book was released on 2018-09-15 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Have you ever puzzled over the causes of the 2007–8 financial crisis and wondered how it will affect all our futures? If so, this book is for you. Using imagined dialogue between three economists with contrasting theoretical perspectives and a student who knows little about economics, different interpretations are compared in straightforward, jargon-free language. The book explores both the consequences of neoliberal economic policies based on the belief in efficient, self-regulating markets and the implications of alternative economic visions formulated in response to the Great Recession. In all, nine dialogues are presented, each of which focuses on a key theme: increasing inequality, the failure of economists to predict the crash, the reasons for fiscal austerity, the rolling back of the welfare state, the roles of the state and the market, the repercussions of the German trade surplus and the Eurozone crisis, policies to confront the crisis, environmental degradation, and the need for an industrial policy appropriate to the present day. The book will be ideal for both general readers and those embarking on the study of economics.
Author : Andrea Lista
Publisher : Taylor & Francis
ISBN 13 : 1135044643
Total Pages : 440 pages
Book Rating : 4.1/5 (35 download)
Download or read book EU Competition Law and the Financial Services Sector written by Andrea Lista and published by Taylor & Francis. This book was released on 2013-06-07 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition law is a complex and constantly evolving area of law which affects every aspect of the market economy, including the financial services sector. This book is a comprehensive and practical guide to the application of the EU competition rules to banking and insurance industries. This book is divided into two parts: the first part explores the application of Articles 101, 102 and 107 TFEU to the insurance industry. Emphasis is placed on recent changes which have progressively eroded the block exemption regime that traditionally benefited the insurance industry. In the second part of the book, focus is on the application of the Articles of TFEU to the banking industry, with specific reference to card payment systems, which give rise to some of the most intricate antitrust issues in the financial services sector. Relevant Commission decisions and European Court of Justice case law are discussed and suggestions are made for an alternative regulatory framework through comparative analysis of US regulations. This book will be an invaluable reference point for legal practitioners specialising in EU Competition law, as well as postgraduate students and academic researchers working in competition law and the financial services sector.
Author : Johanna Hjalmarsson
Publisher : CRC Press
ISBN 13 : 1317665201
Total Pages : 429 pages
Book Rating : 4.3/5 (176 download)
Download or read book Insurance Law in China written by Johanna Hjalmarsson and published by CRC Press. This book was released on 2014-11-20 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chinese insurance market is expanding enormously as risk adversity takes hold in the economy while the role of the State as guarantor of commerce is gradually reduced. In addition, insurance is a heavily regulated field with detailed contract law stipulations. An introduction to regulation and contract law and an understanding of current issues is essential for someone seeking to do business in the Chinese market. Insurance law is also a field that translates well from one jurisdiction to another, and academics will be interested in understanding how issues are dealt with in another jurisdiction. The book seeks to present and discuss current topics in Chinese insurance law and regulation to an English-speaking audience knowledgeable of common law insurance law and international insurance business. The combined effect of the papers is to present Chinese insurance law to an audience unfamiliar with Chinese law, in a readable and accessible essay chapter format. Each chapter is written by an expert in the field and goes beyond a basic introduction to provide in depth well-researched information and academic analysis on the topic in question.
Author : Andrew Crane
Publisher : OUP Oxford
ISBN 13 : 0191549576
Total Pages : 608 pages
Book Rating : 4.1/5 (915 download)
Download or read book The Oxford Handbook of Corporate Social Responsibility written by Andrew Crane and published by OUP Oxford. This book was released on 2008-02-15 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business schools, the media, the corporate sector, governments, and non-governmental organizations have all begun to pay more attention to issues of Corporate Social Responsibility (CSR) in recent years. These issues encompass broad questions about the changing relationship between business, society and government, environmental issues, corporate governance, the social and ethical dimensions of management, globalization, stakeholder debates, shareholder and consumer activism, changing political systems and values, and the ways in which corporations can respond to new social imperatives. This Oxford Handbook is an authoritative review of the academic research that has both prompted, and responded to, these issues. Bringing together leading experts in the area, it provides clear thinking and new perspectives on CSR and the debates around it. The Handbook is divided into seven key sections: * Introduction, * Perspectives on CSR, * Critiques of CSR, * Actors and Drivers, * Managing CSR, * CSR in Global Context, * Future Perspectives and Conclusions.
Author : Jennie Jacobs Kronenfeld
Publisher : Emerald Group Publishing
ISBN 13 : 183982798X
Total Pages : 240 pages
Book Rating : 4.8/5 (398 download)
Download or read book Race, Ethnicity, Gender and Other Social Characteristics as Factors in Health and Health Care Disparities written by Jennie Jacobs Kronenfeld and published by Emerald Group Publishing. This book was released on 2020-09-28 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume investigates race, ethnicity and gender as factors in health and health care.
Author : Claude d' Aspremont
Publisher : De Boeck Supérieur
ISBN 13 : 9782804129941
Total Pages : 348 pages
Book Rating : 4.1/5 (299 download)
Download or read book Social Organization and Mechanism Design written by Claude d' Aspremont and published by De Boeck Supérieur. This book was released on 1999 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: By presenting a collection of contributions by leading experts, this book illustrates the variety of issues that the discipline of "mechanism design", as a branch of game theory, is capable of dealing with : voting rules, trial procedures, public good production, cost-sharing, monopolistic regulation, bequest function, etc. However, the book illustrates also the fundamental unity of the basic questions : information gathering, communication, individual as well as coalitional strategic and dynamic behavior.
Author : Michael Tribe
Publisher : Routledge
ISBN 13 : 1000282538
Total Pages : 218 pages
Book Rating : 4.0/5 (2 download)
Download or read book Economic Neoliberalism and International Development written by Michael Tribe and published by Routledge. This book was released on 2020-11-22 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a robust theoretical and empirical exploration of the interrelationship between economic neoliberalism and international development. Putting the experiences of developing and transitional economies centre stage, the book investigates how their economic policies compare with the nature of economic liberalism during and after the significant economic reforms which took place from the mid-1980s. Beginning with two chapters which provide an introduction to the concept of economic neoliberalism, the second section focuses on its application to ‘practice’, and the book moves on to country/regional case studies, taken from Sub-Saharan Africa, South Asia, Latin America, China, and Eastern Europe. The book closes with some concluding remarks summarising some of the principal findings. Bringing together a wealth of expertise, this book clarifies controversial economic and political issues which have been significantly misunderstood in public discourse, and as such, it will be of interest to a range of researchers interested in the economic, social and political dynamics of developing and transitional countries.
Author : Professor Geoffrey Harcourt
Publisher : Routledge
ISBN 13 : 1134518595
Total Pages : 422 pages
Book Rating : 4.1/5 (345 download)
Download or read book Editing Economics written by Professor Geoffrey Harcourt and published by Routledge. This book was released on 2001-10-25 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mark Perlman was the founding editor of the Journal of Economic Literature and responsible for issues from 1969 until 1980 when he retired. He has also written and edited a number of books and articles, concentrating on aspects of the labour market, population growth, health economics, the environment and the history of economics. His extraordinari
Author : Thomas Skuzinski
Publisher : Routledge
ISBN 13 : 1315304023
Total Pages : 207 pages
Book Rating : 4.3/5 (153 download)
Download or read book The Risk of Regional Governance written by Thomas Skuzinski and published by Routledge. This book was released on 2017-09-18 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: Creating metropolitan regions that are more efficient, equitable, and sustainable depends on the willingness of local officials to work together across municipal boundaries to solve large-scale problems. How do these local officials think? Why do they only sometimes cooperate? What kind of governance do they choose in the face of persistent problems? The Risk of Regional Governance offers a new perspective on these questions. Drawing on theory from sociology and anthropology, it argues that many of the most important cooperative decisions local officials make—those about land use planning and regulation—are driven by heuristic, biased reasoning driven by cultural values. The Risk of Regional Governance builds a sociocultural collective action framework, and supports it with rich survey and interview data from hundreds of local elected officials serving in the suburbs of Detroit and Grand Rapids, Michigan. It is a story of the Rust Belt, of how local officials think about their community and the region, and—most importantly—of how we might craft policies that can overcome biases against regional governance.
Author : Mingyan Liu
Publisher : Springer Nature
ISBN 13 : 3031023811
Total Pages : 127 pages
Book Rating : 4.0/5 (31 download)
Download or read book Embracing Risk written by Mingyan Liu and published by Springer Nature. This book was released on 2022-06-01 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an introduction to the theory and practice of cyber insurance. Insurance as an economic instrument designed for risk management through risk spreading has existed for centuries. Cyber insurance is one of the newest sub-categories of this old instrument. It emerged in the 1990s in response to an increasing impact that information security started to have on business operations. For much of its existence, the practice of cyber insurance has been on how to obtain accurate actuarial information to inform specifics of a cyber insurance contract. As the cybersecurity threat landscape continues to bring about novel forms of attacks and losses, ransomware insurance being the latest example, the insurance practice is also evolving in terms of what types of losses are covered, what are excluded, and how cyber insurance intersects with traditional casualty and property insurance. The central focus, however, has continued to be risk management through risk transfer, the key functionality of insurance. The goal of this book is to shift the focus from this conventional view of using insurance as primarily a risk management mechanism to one of risk control and reduction by looking for ways to re-align the incentives. On this front we have encouraging results that suggest the validity of using insurance as an effective economic and incentive tool to control cyber risk. This book is intended for someone interested in obtaining a quantitative understanding of cyber insurance and how innovation is possible around this centuries-old financial instrument.
Author : Francesca Ricciardi
Publisher : Springer
ISBN 13 : 3319289071
Total Pages : 339 pages
Book Rating : 4.3/5 (192 download)
Download or read book Information and Communication Technologies in Organizations and Society written by Francesca Ricciardi and published by Springer. This book was released on 2016-02-02 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a collection of original research papers focusing on emerging issues regarding the role of information and communication technologies in organizations, inter-organizational systems, and society. It adopts an inter-disciplinary approach, allowing for the integration of contributions from various disciplines such as information systems, organizational studies, marketing, accounting, and social sciences. This book offers valuable insights not only for scholars, but also for practitioners, managers, and policy makers. The book is a compilation of the best research papers – originally double blind, peer-reviewed contributions – presented at the ICTO 2015 conference held in Paris.
Author : Gerald A. Feltham
Publisher : Springer Science & Business Media
ISBN 13 : 9400926677
Total Pages : 412 pages
Book Rating : 4.4/5 (9 download)
Download or read book Economic Analysis of Information and Contracts written by Gerald A. Feltham and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: The three coeditors knew John Butterworth for many years and had worked closely with him on a number of research projects. We respected him as a valuable colleague and friend. We were greatly saddened by his untimely death. This book is an attempt to remember him. We dedicate the volume to John with thanks for the contributions he made to our research, to the Faculty of Commerce and Business Administration at the University of British Columbia, and to the accounting profession. This volume contains twelve invited papers on the general topic of the economic theory of information and contracts. We asked leading scholars who had known John to contribute papers. The response was very gratifying. The authors provided us with new strong research papers that should make a lasting contribution to the accounting and information economics research literature, and make us all proud to have put this volume together. The research papers in the volume are in three sections: information evaluation in multi person conte)l:ts; contracting in agencies under moral hazard; and contracting in agencies with private information. We begin part I with Jerry Feltham's review of John Butterworth's pioneering contributions to the accounting and information economics literature. This is followed by an introduction to the papers in the volume and the papers themselves.
