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| Author: | Lakdawalla, D. Zanjani, G. |
| Title: | Insurance, self-protection, and the economics of terrorism |
| Journal: | Journal of Public Economics
2005 : SEP, VOL 89:9-10, p. 1891-1905 |
| Index terms: | Insurance Markets Public sector Terrorism Models USA |
| Language: | eng |
| Abstract: | This paper investigates the rationale for public intervention in the terrorism insurance (here as: t-insr.) market. It is argued that government subsidies for t-insr. have the effect of discouraging self-protection and limiting the negative externalities associated with self-protection. It is also argued that externalities in protection are essential for normative analysis of government intervention in insurance markets. |
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