Law and Economics of Insurance

Law and Economics of Insurance
Author: Daniel Schwarcz
Publisher: Edward Elgar Publishing
Total Pages: 0
Release: 2012
Genre: Insurance law
ISBN: 9780857931283

This timely two-volume collection successfully combines economically-oriented legal scholarship on insurance with policy-relevant economics scholarship on insurance. Professor Schwarcz has selected seminal contributions from the past twenty years to explore some of the central questions involving the role of the state in insurance markets. These include rules governing the interpretation and enforceability of insurance contracts, the regulation of insurers and insurance markets, and the role of public programs in supporting private insurance markets. This essential collection will be of immense value and interest to students and academics interested in the diverse field of the law and economics of insurance.

Insurance and Behavioral Economics

Insurance and Behavioral Economics
Author: Howard C. Kunreuther
Publisher: Cambridge University Press
Total Pages: 343
Release: 2013-01-28
Genre: Business & Economics
ISBN: 0521845726

This book examines the behavior of individuals at risk and insurance industry policy makers involved in selling, buying and regulation.

The Oxford Handbook of Law and Economics

The Oxford Handbook of Law and Economics
Author: Francesco Parisi
Publisher: Oxford University Press
Total Pages: 593
Release: 2017
Genre: Business & Economics
ISBN: 0199684200

The Oxford Handbook of Law and Economics applies the theoretical and empirical methods of economics to the study of law. Volume 2 surveys Private and Commercial Law.

The Economics of Property-Casualty Insurance

The Economics of Property-Casualty Insurance
Author: David F. Bradford
Publisher: University of Chicago Press
Total Pages: 158
Release: 1998-04-28
Genre: Business & Economics
ISBN: 9780226070261

The Economics of Property-Casualty Insurance presents new research and findings on key aspects of the economics of the property-casualty insurance industry. The volume explores the industrial organization, regulation, financing, and taxation of this business. The first paper, on external financing and insurance cycles, contains a wealth of information on trends and patterns in the industry's financial structure. The last essay, which compares performance of stock and mutual insurance companies, takes a fresh look at the way a company's organizational structure affects its responses to different economic situations. Two papers focus on rate regulation in the auto insurance industry, and provide broad overviews of the structure and economics of the insurance industry as a whole. Also addressed are the system of regulating insurance companies in the United States, who insures the insurers, and the effects of tax law changes in the 1980s on the prices of insurance policies.

Research Handbook on the Economics of Torts

Research Handbook on the Economics of Torts
Author: Jennifer Arlen
Publisher: Edward Elgar Publishing
Total Pages: 668
Release: 2013-11-29
Genre: Law
ISBN: 1781006172

Focusing on issues of vital importance to those seeking to understand and reform the tort system, this volume takes a multi-disciplinary approach, including theoretical economic analysis, empirical analysis, socio-economic analysis, and behavioral anal

Economics of Insurance

Economics of Insurance
Author: K.H. Borch
Publisher: North Holland
Total Pages: 424
Release: 1990
Genre: Business & Economics
ISBN:

The theory of insurance is presented in this book, discussed from the viewpoint of the theory of economics of uncertainty. The principle of premium calculation which the book uses is based on economic equilibrium theory and differs from many of the premium systems discussed by actuaries.Reinsurance is developed in the framework of general economic equilibrium theory under uncertainty. Here ordering of risks, preferences and utility theory play an important role. The book discusses the markets for insurance and divides them into three classes: (i) life insurance (ii) business insurance and (iii) household insurance, and these classes are each treated extensively in three separate chapters. Finally uninsurable risks are presented under "asymmetric information". Here moral hazard and adverse selection are treated and illustrations are given, some based on game theory.

Foundations of Economic Analysis of Law

Foundations of Economic Analysis of Law
Author: Steven Shavell
Publisher: Harvard University Press
Total Pages: 760
Release: 2009-07-01
Genre: Law
ISBN: 0674043499

What effects do laws have? Do individuals drive more cautiously, clear ice from sidewalks more diligently, and commit fewer crimes because of the threat of legal sanctions? Do corporations pollute less, market safer products, and obey contracts to avoid suit? And given the effects of laws, which are socially best? Such questions about the influence and desirability of laws have been investigated by legal scholars and economists in a new, rigorous, and systematic manner since the 1970s. Their approach, which is called economic, is widely considered to be intellectually compelling and to have revolutionized thinking about the law. In this book Steven Shavell provides an in-depth analysis and synthesis of the economic approach to the building blocks of our legal system, namely, property law, tort law, contract law, and criminal law. He also examines the litigation process as well as welfare economics and morality. Aimed at a broad audience, this book requires neither a legal background nor technical economics or mathematics to understand it. Because of its breadth, analytical clarity, and general accessibility, it is likely to serve as a definitive work in the economic analysis of law.

Foundations of Insurance Economics

Foundations of Insurance Economics
Author: Georges Dionne
Publisher: Springer Science & Business Media
Total Pages: 748
Release: 1992
Genre: Business & Economics
ISBN: 0792392043

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.

Moral Hazard in Health Insurance

Moral Hazard in Health Insurance
Author: Amy Finkelstein
Publisher: Columbia University Press
Total Pages: 161
Release: 2014-12-02
Genre: Medical
ISBN: 0231538685

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

The Oxford Handbook of Behavioral Economics and the Law

The Oxford Handbook of Behavioral Economics and the Law
Author: Eyal Zamir
Publisher: Oxford Handbooks
Total Pages: 841
Release: 2014
Genre: Business & Economics
ISBN: 0199945470

'The Oxford Handbook of Behavioral Economics and Law' brings together leading scholars of law, psychology, and economics to provide an up-to-date and comprehensive analysis of this field of research, including its strengths and limitations as well as a forecast of its future development. Its twenty-nine chapters are organized into four parts.