Public versus private insurance system ...
Type de document :
Compte-rendu et recension critique d'ouvrage
Titre :
Public versus private insurance system with (and without) transaction costs: optimal segmentation policy of an informed monopolist
Auteur(s) :
Titre de la revue :
Applied Economics
Pagination :
1907-1928
Éditeur :
Taylor & Francis (Routledge)
Date de publication :
2018-10-13
ISSN :
0003-6846
Mot(s)-clé(s) en anglais :
Insurance
direct segmentation
transaction costs
social welfare
direct segmentation
transaction costs
social welfare
Discipline(s) HAL :
Sciences de l'Homme et Société/Economies et finances
Résumé en anglais : [en]
Computer-mediated transactions allow insurance companies to customize their contracts, while transaction costs limit this tendency toward customization. To capture this phenomenon, we develop a complete-information framework ...
Lire la suite >Computer-mediated transactions allow insurance companies to customize their contracts, while transaction costs limit this tendency toward customization. To capture this phenomenon, we develop a complete-information framework in which it is costly to design a new market segment when the segmentation policy (number and design of segments) is endogenously chosen. Both the case of a private and a public insurer are considered. Without transaction costs, these two insurance systems are equivalent in terms of social welfare and participation. With transaction costs, this equivalence is no longer present, and the analysis of this difference is the subject of this article.Lire moins >
Lire la suite >Computer-mediated transactions allow insurance companies to customize their contracts, while transaction costs limit this tendency toward customization. To capture this phenomenon, we develop a complete-information framework in which it is costly to design a new market segment when the segmentation policy (number and design of segments) is endogenously chosen. Both the case of a private and a public insurer are considered. Without transaction costs, these two insurance systems are equivalent in terms of social welfare and participation. With transaction costs, this equivalence is no longer present, and the analysis of this difference is the subject of this article.Lire moins >
Langue :
Anglais
Vulgarisation :
Non
Collections :
Source :