{"title":"Conversion and Efficiency Performance Changes: Evidence from the U.S. Property-Liability Insurance Industry","authors":"L. Chen, Gene C. Lai, Jennifer L. Wang","doi":"10.1057/GRIR.2010.3","DOIUrl":"https://doi.org/10.1057/GRIR.2010.3","url":null,"abstract":"","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"36 1","pages":"1-35"},"PeriodicalIF":1.5,"publicationDate":"2011-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1057/GRIR.2010.3","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58579580","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Considering a consumer with standard preferences, I trace out how quantity constraints on markets impact on relative risk aversion and prudence. I first show how this impact decomposes into a local curvature effect and an endogenously changing risk aversion/prudence effect. Next, I calibrate both effects on relative risk aversion and prudence, using estimates on household demand for durables and labour supply. The calibrations show that commitments to durable goods have large effects on attitudes towards risk. And while small wedges between realised and desired levels of labour supply have only moderate effects, becoming full time unemployed on a 60 per cent unemployment benefit significantly raises risk aversion and prudence.
{"title":"Attitudes Towards Income Risk in the Presence of Quantity Constraints","authors":"F. Schroyen","doi":"10.2139/ssrn.1808607","DOIUrl":"https://doi.org/10.2139/ssrn.1808607","url":null,"abstract":"Considering a consumer with standard preferences, I trace out how quantity constraints on markets impact on relative risk aversion and prudence. I first show how this impact decomposes into a local curvature effect and an endogenously changing risk aversion/prudence effect. Next, I calibrate both effects on relative risk aversion and prudence, using estimates on household demand for durables and labour supply. The calibrations show that commitments to durable goods have large effects on attitudes towards risk. And while small wedges between realised and desired levels of labour supply have only moderate effects, becoming full time unemployed on a 60 per cent unemployment benefit significantly raises risk aversion and prudence.","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"38 1","pages":"183-209"},"PeriodicalIF":1.5,"publicationDate":"2011-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67750038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kili C. Wang, Jin-Lung Peng, Yi-Yun Sun, Yao-Chia Chang
{"title":"The Asymmetric Information Problem in Taiwan's Cancer Insurance Market","authors":"Kili C. Wang, Jin-Lung Peng, Yi-Yun Sun, Yao-Chia Chang","doi":"10.1057/GRIR.2010.12","DOIUrl":"https://doi.org/10.1057/GRIR.2010.12","url":null,"abstract":"","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"7 1","pages":"202-219"},"PeriodicalIF":1.5,"publicationDate":"2011-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1057/GRIR.2010.12","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58579557","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Optimal Brokerage Commissions for Fair Insurance: A First Order Approach","authors":"Arthur Hau","doi":"10.1057/GRIR.2010.11","DOIUrl":"https://doi.org/10.1057/GRIR.2010.11","url":null,"abstract":"","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"36 1","pages":"189-201"},"PeriodicalIF":1.5,"publicationDate":"2011-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1057/GRIR.2010.11","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58579520","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Incentive Effects of Community Rating in Insurance Markets: Evidence from Massachusetts Automobile Insurance","authors":"Sharon Tennyson","doi":"10.1057/GRIR.2010.2","DOIUrl":"https://doi.org/10.1057/GRIR.2010.2","url":null,"abstract":"","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"35 1","pages":"19-46"},"PeriodicalIF":1.5,"publicationDate":"2010-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1057/GRIR.2010.2","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58579566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Hidden Overconfidence and Advantageous Selection","authors":"Rachel J. Huang, Yu-Jane Liu, Larry Y. Tzeng","doi":"10.1057/GRIR.2009.5","DOIUrl":"https://doi.org/10.1057/GRIR.2009.5","url":null,"abstract":"","PeriodicalId":43920,"journal":{"name":"Geneva Risk and Insurance Review","volume":"35 1","pages":"93-107"},"PeriodicalIF":1.5,"publicationDate":"2010-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1057/GRIR.2009.5","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58579353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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