£49.99

Economics of Insurance

43239-42864

Econometrics

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Description

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.

Product Specifications

Model: 43239-42864
Format: paperback
ASIN: 1493304925
Category: Books > Subjects > Business, Finance & Law > Economics > Econometrics
Domain: Amazon UK
Release Date: 08 December 2014
Listed Since: 08 December 2014

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Economics of Insurance

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