Individual Risk and Mutual Insurance
نویسندگان
چکیده
منابع مشابه
a new algorithm and software of individual life insurance and annuity computation
چکیده ندارد.
15 صفحه اولOn Mutual Insurance
Owners of stochastic assets can pool their endowments to smoothen and insure individual payoffs across outcomes and time. We explore, in such a setting, how contingent shadow prices on aggregate resources can be used for three purposes: First, to design mutual contracts for risk averse agents; second, to quantify the malfunctioning of such contracts when there are risk lovers (or scale economie...
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We study formation of mutual insurance networks in a model where agents who obtain more resources share a fixed amount of resources with all directly linked agents that obtain fewer resources. We identify the pairwise stable networks and efficient networks in a basic model where agents are identical. Then, we introduce in the model two types of heterogeneity: an exogenous one, where agents diff...
متن کاملRisk selection and risk adjustment: improving insurance in the individual and small group markets.
Insurance market reforms face the key challenge of addressing the threat that risk selection poses to the availability, of stable, high-value insurance policies that provide long-term risk protection. Many of the strategies in use today fail to address this breakdown in risk pooling, and some even exacerbate it. Flexible risk adjustment schemes are a promising avenue for promoting market stabil...
متن کاملIndividual investor mutual fund flows
This paper studies the relation between individuals’ mutual fund flows and fund characteristics, establishing three key results. First, consistent with tax motivations, individual investors are reluctant to sell mutual funds that have appreciated in value and are willing to sell losing funds. Second, individuals pay attention to investment costs as redemption decisions are sensitive to both exp...
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ژورنال
عنوان ژورنال: Econometrica
سال: 1996
ISSN: 0012-9682
DOI: 10.2307/2171785