search query: @indexterm IMPERFECT COMPETITION / total: 53
reference: 25 / 53
| Author: | Koehl, P.-F. Villeneuve, B. |
| Title: | Complementarity and Substituability in Multiple-Risk Insurance Markets |
| Journal: | International Economic Review
2001 : FEB, VOL. 42:1, p. 245-266 |
| Index terms: | RISK INSURANCE IMPERFECT COMPETITION |
| Language: | eng |
| Abstract: | The authors study imperfect competition between insurers in a multiple-risk environment. In the absence of asymmetric information, equilibria are efficient, and the authors determine the degrees of specialization under which the specialized insurers are able or unable to capture the surplus. The authors show in contrast that under adverse selection, specialization systematically prevents second- best efficiency. Concluding on the role of the authors' notions of strategic complementarity/substituability on the trade-off between efficiency and fairness of the allocation, the authors give indications on the desirable structure of the insurance industry. The article provides a substantial list of references on this subject. |
SCIMA