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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
Insurance and Insurance Markets
221
A general conclusion from Picard’s survey (2013) is that insurance fraud affects the
design of insurance contracts. In some cases, a deductible can be optimal but usually
some degrees of coinsurance are necessary, particularly when policyholders can manipu-
late audit costs or falsify claims. Another issue is related to the insurers’ incentives of
reducing insurance fraud. There is a free riding issue in competitive markets: Individual
insurers may simply increase their premiums following an increase in ex post average
losses. Some authors have suggested the development of common agencies to develop
common data ...
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Publisher Resources

ISBN: 9780444536853