Risk, Information and Insurance

1. Front Matter

   Pages i-xiii

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2. Introduction

   1. Introduction

      • Henri Loubergé

      Pages 1-14

3. Borch’s Theorem: A Historical Survey of Applications

   1. Borch’s Theorem: A Historical Survey of Applications

      • Jean Lemaire

      Pages 15-37

4. Economics of Uncertainty

   1. Front Matter

      Pages 39-39

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   2. The Role of Securities and Labor Contracts in the Optimal Allocation of Risk-Bearing

      • Jacques H. Drèze

      Pages 41-65

   3. Proportional Risk Aversion and Saving Decisions under Uncertainty

      • Georges Dionne, Louis Eeckhoudt, Eric Briys

      Pages 67-87

5. Economics of Information

   1. Front Matter

      Pages 89-89

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   2. The Welfare Economics of Moral Hazard

      • Richard Arnott, Joseph Stiglitz

      Pages 91-121

   3. Problems of Equilibria in Insurance Markets with Asymmetric Information

      • Roland Eisen

      Pages 123-141

   4. Moral Hazard and Insurance Market Structure

      • Yoram Eden, Yehuda Kahane

      Pages 143-163

   5. The Effects of Organizational Form on Capital Structure: The Case of Stock and Mutual Property-Liability Insurance Firms

      • Prabir Datta, Neil A. Doherty

      Pages 165-182

6. Economics of Insurance

   1. Front Matter

      Pages 183-183

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   2. Strategic Growth and Profit Policy of Insurance Companies

      • Dieter Farny

      Pages 185-198

   3. (De) Regulation of Insurance Markets

      • Lutgart van den Berghe

      Pages 199-220

   4. Price Regulation and Segmented Insurance Markets

      • J. François Outreville

      Pages 221-229

   5. The Microstructure of the London Insurance Market

      • Robert L. Carter, Stephen R. Diacon

      Pages 231-256

   6. Do Shares in other Insurance Companies Reduce the Solvency Margin of an Insurer?

      • Walter Karten

      Pages 257-267

7. Back Matter

   Pages 269-274

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Orio Giarini The "Geneva Association" (International Association for the Study of Risk and Insurance Economics) was founded in 1973. The main goal was to stimulate and organize objective research in the field of risk, uncertainty, and insurance, in a world in which such issues were clearly becoming of greater and greater relevance for all economic actors. This was a pioneer­ ing effort, especially as economic theory and the teaching of economics were still anchored to the key notion of general equilibrium under an assumption of certainty. Thus, we had to start our work almost from scratch. One of the first initiatives was to bring together in Geneva, in June of 1973, all the academics in Europe already involved in risk and insurance economics. We found eight from five different countries who never had met before. This seminar chaired by Raymond Barre, the first president of The Geneva Association, was the first of an annual series that became known as the seminar of "The European Group of Risk and Insurance Economists." Since then more than 100 economists from most European countries as well as participants from two other continents and in particular from the United States have taken part in this seminar.

• economics
• insurance
• market structure
• moral hazard
• organization

• Département d’économie politique, Université de Genève, Carouge-Genève, Switzerland

  Henri Loubergé

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