Insurance markets
Beyond Testing: Empirical Models of Insurance Markets
... Many insurance products are purchased infre- quently and can be complex to ...that insurance market competition may be limited by the partial information of consumers and their hesitancy to switch away from ...
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Competitive Insurance Markets and Adverse Selection in the Lab
... of insurance policies such that the specific contract freely chosen by each individual reveals his true level of ...partial insurance contracts (i.e. with a deductible) on insurance markets ...
29
How Does the Corporate World Cope with Mega-Terrorism? Puzzling Evidence from Terrorism Insurance Markets
... Moreover, until the changes were enacted in 2003, insurers would have charged their insureds the price charged by Pool Re for reinsuring their risks, plus a management fee. Since 2003, however, insurers are now free to ...
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Complementarity and Substituability in Multiple-Risk Insurance Markets
... In this conclusion, we leave apart the effects due to adverse selection in view of drawing lessons on the pure effects of specialization as compared with global monop- olization. According to our analysis, a limited ...
22
Adverse Selection in Insurance Contracting
... o¤ering insurance contracts in the presence of adverse selection? Crocker and Snow (1985, 1986) show that, if the observable variables are correlated with hidden knowledge, costless imperfect categorization always ...
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Liability Insurance under the Negligence Rule
... insurers. Insurance markets are competitive and coverage is sold at a fair ...liability insurance, victims purchase …rst-party coverage against the risk that an in- jurer is not held liable in ...
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Competition among Securities Markets
... By contrast, the Coulisse was a loosely organized OTC-like market. The coulissiers acted both as brokers and jobbers. Unlike the agents de change, many coulissiers and partners of their securities houses were foreigners. ...
30
Symmetry and financial Markets
... financial markets as a long term growth phenomenon, (21) illustrates how a broken symmetry of market participants taking up more long, or more short positions, could lead to a long term growth/decline of the ...
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Communication impacting financial markets
... INTRODUCTION The quote “In the short run, the market is a voting machine, but in the long run it is a weighing machine” is attributed to Benjamin Graham[2]. Graham himself used the quote to argue that investors should ...
13
Essays on Sovereign Bond Markets
... In each of the three chapters of this thesis, I jointly study two or more of these markets. In the first chapter, I jointly study the three markets together. I ask if investors who short-sell in the days ...
153
Communication impacting financial markets
... INTRODUCTION The quote “In the short run, the market is a voting machine, but in the long run it is a weighing machine” is attributed to Benjamin Graham[2]. Graham himself used the quote to argue that investors should ...
17
Regulation in commodities markets
... commodities markets, this paper assesses the impact of unexpected monetary announcements on commodities ...commodities markets on the day of the ...commodity markets may be impacted by monetary ...
149
Auction versus Dealership Markets
... auction markets is a more realistic repre- sentation of financial markets having a continuous auction ...auction markets are centralized, we argue that the limit-order book may contain more than only ...
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Analytics for online markets
... regression, clustering, reinforcement learning, and optimization - to address these system design and tactical challenges that online markets face. In the first part of this thesis, we design a "scrip ...
153
"Environmental markets exacerbate inequalities"
... Environmental markets solve the tragedy of the commons. Overexploitation can be avoided by assigning property rights on common-pool resources. Making those rights tradable ensures that the resource is assigned ...
16
Is Workers' Compensation Disguised Unemployment Insurance?
... ¸ t = ¸(W CR t ; UIR t ; UNEMP t ; W AGE t ; D; MONTH; t; X t ) (2.1) The following theoretical predictions are intuitive. A higher WC wage replacement ratio, W CR t , increases a worker's utility on WC. This e®ect ...
25
Prevention and insurance of natural disasters
... Risk Insurance Facility (CCRIF) is designed to supply insurance contracts to the Caribbean countries (CCRIF SPC ...financial markets supply reinsurance contracts 2 above fair prices (Jaffee & ...
127
Universal Basic Income versus Unemployment Insurance
... criticized yet resilient UI. The latter does clearly suffer from several serious flaws, such as tax distortion, the lower savings it generates, moral hazard, and disincentives to work. Designed to offer temporary ...
25
Benchmarks in Search Markets
... Cambridge, MA 02138 October 2014 We are grateful for useful discussions with and comments from members of the Market Participants Group on Reference Rate Reform (MPG), as well as Ana Babus, Bruno Biais, David Bowman, ...
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Essays on financial markets predictability
... pothesis ( Fama [ 1970 ]). This widely held assumption states that econometricians cannot systematically outperform the market using widely available information. In sharp contrast with this theory, it is becoming more ...
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