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The Economics of Risk and Insurance

  • ID: 2326610
  • Book
  • February 2010
  • 352 Pages
  • John Wiley and Sons Ltd
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The Economics of Risk and Insurance covers diverse issues such as risk aversion, expected utility, and information asymmetry within the pure theory of insurance. It then expands upon this framework to include crucial applied issues such as insurer s organization, marketing channels, and insurance fraud, summarizing the important results in relevant literature. By keeping the level of math used in the analyses at the undergraduate economics–major level, and by providing proofs with fully explicated results, Seog has written a text that is highly intuitive to students.
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0. Introduction.

Part I: Fundamentals of Insurance.

1. Risk and Expected Utility.

2. Risk Aversion and Riskiness.

3. Principles of Insurance: Risk Sharing and Transfer.

Part II: Demand for Insurance and Insurance Contract.

4. Risk Aversion and Insurance.

5. Corporate Insurance and Risk Management.

6. Liability and Insurance.

Part III: Information and Insurance Contract.

7. Basic Adverse Selection Models.

8. Advanced Topics in Adverse Selection.

9. Moral Hazard.

10. Ex Post Moral Hazard and Fraud.

Part IV: Insurance Market.

11. Insurer Organization.

12. Competition in the Insurance Market.

13. Insurance Cycle and Capacity.

Part V: Insurer Management.

14. Insurance Distribution Systems.

15. Insurance Pricing.

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S. Hun Seog
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