Strauss, Jason (2006): The Impact of Price Controls on Mandatory Automobile Insurance Markets.
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Abstract
This is a theoretical paper that models a mandatory automobile insurance market using a partial equilibrium concept where automobile insurance is one good and a composite good represents all others. Price controls, heterogeneous service, administrative, and adjusting costs, as well as capital reserves and capital costs are all included in this simple model.
Item Type: | MPRA Paper |
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Original Title: | The Impact of Price Controls on Mandatory Automobile Insurance Markets |
Language: | English |
Keywords: | insurance, insurance markets |
Subjects: | G - Financial Economics > G2 - Financial Institutions and Services > G22 - Insurance ; Insurance Companies ; Actuarial Studies |
Item ID: | 11016 |
Depositing User: | Jason Strauss |
Date Deposited: | 10 Oct 2008 07:40 |
Last Modified: | 06 Oct 2019 04:52 |
References: | Booth, et al, 1999, “Modern Actuarial Theory and Practice,” New York, Chapman & Hall/CRC. Cagle, J. A. B. and Harrington, S. E. 1995, 'Insurance Supply with Capacity Constraints and Endogenous Insolvency Risk,' Journal of Risk and Uncertainty, 11 (3), 219-232. Cummins, J.D. and Danzon, P.M, 1997, 'Price, Financial Quality, and Capital Flows in Insurance Markets,' Journal of Financial Intermediation, 6, 3-38. Cummins, J.D. and Mahul, O., 2003, 'Optimal Insurance with Divergent Beliefs about Insurer Total Default Risk,' The Journal of Risk and Uncertainty, 27 (2), pp.121-138. Doherty, N.A. 1981, 'The Measurement of Output and Economies of Scale in Property-Liability Insurance,' Journal of Risk and Insurance, 48 (3), 390-402. Doherty, N.A., and Schlesinger, H, 1990, 'Rational Insurance Purchasing: Consideration of Contract Nonperformance,' The Quarterly Journal of Economics, 2, 243-253. Kaas, et al, 2001, 'Modern Actuarial Risk Theory,' Dordrecht, The Netherlands, Kluwer Academic Publishers. Tapiero, C.S, and Jacque, L., 1987, 'The Expected Cost of Ruin and Insurance Premiums in Mutual Insurance,' The Journal of Risk and Insurance, 54 (3), pp. 594-602. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/11016 |