Economics of insurance

Author(s)

• Borch, Karl Henrik
• Aase, Knut Kristian
• Sandmo, Agnar

Bibliographic Information

Economics of insurance

K. Borch ; edited and completed by Knut K. Aase and Agnar Sandmo

（Advanced textbooks in economics, v. 29）

North-Holland , Distributors for the U.S. and Canada, Elsevier Science Pub. Co., 1990

Note

Includes bibliographical references and index

Description and Table of Contents

Description

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.

Table of Contents

Insurance and Economics. Insurance and Utility Theory. Insurance and Competitive Equilibrium. Life Insurance. Business Insurance. Household Insurance. Uninsurable Risks. Risk Theory and Government Supervision. Indexes.

by "Nielsen BookData"

Details

• NCID: BA07845390
• ISBN:
  • 0444873449
• LCCN: 89026556
• Country Code: ne
• Title Language Code: eng
• Text Language Code: eng
• Place of Publication: Amsterdam ; New York,New York, N.Y., U.S.A.
• Pages/Volumes: xiii, 402 p.
• Size: 24 cm
• Classification:
  • NDC8 : 339
  • NDC7 : 339
  • LCC : HG8026
  • DC20 : 368/.01
• Subject Headings:
  • LCSH : Insurance
• Parent Bibliography ID:
  • BA00069113