On Mutual Insurance

Ermoliev YM & Flam SD (2000). On Mutual Insurance. IIASA Interim Report. IIASA, Laxenburg, Austria: IR-00-002

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Abstract

Owners of stochastic assets can pool their endowments to smoothen and insure individual payoffs across outcomes and time. We explore, in such a setting, how contingent shadow prices on aggregate resources can be used for three purposes: First, to design mutual contracts for risk averse agents; second, to quantify the malfunctioning of such contracts when there are risk lovers (or scale economies); and third, to estimate reasonable premiums for insurance offered by outside agents.

Item Type: Monograph (IIASA Interim Report)
Research Programs: Risk, Modeling, Policy (RMP)
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 02:12
Last Modified: 23 Oct 2016 22:59
URI: http://pure.iiasa.ac.at/6242

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