Contributions to Insurance Economics

1. Front Matter

   Pages i-xix

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2. Survey Articles

   1. Front Matter

      Pages 1-1

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   2. Economic Theory of Risk Exchanges: A Review

      • Christian Gollier

      Pages 3-23

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   3. The Demand for and Supply of Liability Insurance

      • Patricia M. Danzon, Scott E. Harrington

      Pages 25-60

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   4. Moral Hazard and Insurance Contracts

      • Ralph A. Winter

      Pages 61-96

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   5. Adverse Selection in Insurance Markets: A Selective Survey

      • Georges Dionne, Neil Doherty

      Pages 97-140

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   6. Financial Pricing of Property and Liability Insurance

      • J. David Cummins

      Pages 141-168

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   7. Econometric Models of Accident Distributions

      • Marcel Boyer, Georges Dionne, Charles Vanasse

      Pages 169-213

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3. Essays

   1. Front Matter

      Pages 215-215

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   2. Theoretical Models

      1. Optimal Insurance: A Nonexpected Utility Analysis

         • Edi Karni

         Pages 217-238

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      2. Background Risk, Prudence, and the Demand for Insurance

         • Louis Eeckhoudt, Miles Kimball

         Pages 239-254

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      3. Optimum Insurance with Deviant Beliefs

         • John M. Marshall

         Pages 255-274

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      4. Increases in Risk and the Demand for Insurance

         • Yves Alarie, Georges Dionne, Louis Eeckhoudt

         Pages 275-290

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      5. Crop Insurance in Incomplete Markets

         • Bharat Ramaswami, Terry L. Roe

         Pages 291-306

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      6. How does Ambiguity Affect Insurance Decisions?

         • Howard Kunreuther, Robin M. Hogarth

         Pages 307-324

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      7. Moral Hazard and Competitive Insurance Markets

         • Richard J. Arnott

         Pages 325-358

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      8. Probationary Periods and Time-Dependent Deductibles in Insurance Markets with Adverse Selection

         • Claude Fluet

         Pages 359-375

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      9. Insurance Classifications and Social Welfare

         • Samuel A. Rea Jr.

         Pages 377-396

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   3. Empirical Models

      1. Social Insurance in Market Contexts: Implications of the Structure of Workers’ Compensation for Job Safety and Wages

         • Michael J. Moore, W. Kip Viscusi

         Pages 399-422

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      2. Testing for Asymmetric Information in Canadian Automobile Insurance

         • Bev Dahlby

         Pages 423-443

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For a number of years, I have been teaching and doing research in the economics of uncertainty, information, and insurance. Although it is now possible to find textbooks and books of essays on uncertainty and in­ formation in economics and finance for graduate students and researchers, there is no equivalent material that covers advanced research in insurance. The purpose of this book is to fill this gap in literature. It provides original surveys and essays in the field of insurance economics. The contributions offer basic reference, new material, and teaching supple­ ments to graduate students and researchers in economics, finance, and insurance. It represents a complement to the book of readings entitled Foundations of Insurance Economics - Readings in Economics and Finance, recently published by the S.S. Huebner Foundation of Insurance Education. In that book, the editors (G. Dionne and S. Harrington) disseminate key papers in the literature and publish an original survey of major contributions in the field.

• Finance
• calculus
• econometrics
• incomplete markets
• utility

'In conclusion, I recommend Contributions to Insurance. It does an excellent job of readers of the Journal of Risk and Insurance economics, remind the reader of the advances that are being made, and of equal if not more importance, sets the stage for a future research agenda in this area.' Journal of Risk and Insurance

• Université de Montréal, Canada

  Georges Dionne

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