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Economics of Insurance

| £60.78 | €68.36 | Ca$98.61 | Au$97.32
by K. H. Borch & A. Sandmo & K. K. Aase
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Economics of Insurance by K. H. Borch & A. Sandmo & K. K. Aase

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.

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Ebook Details
Pages: 410
Size: 21.3 MB
Publisher: North Holland
Date published:   2014
ISBN: 9781483294902 (DRM-PDF)

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This product is listed in the following categories:

Nonfiction > Mathematics > Probability & Statistics
Nonfiction > Business & Economics > Econometrics

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