Economics of Insurance
By:K.H. Borch,A. Sandmo,K.K. Aase
Published on 2014-07-14 by Elsevier
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.
This Book was ranked at 26 by Google Books for keyword Insurance.
Book ID of Economics of Insurance's Books is aDujBQAAQBAJ, Book which was written byK.H. Borch,A. Sandmo,K.K. Aasehave ETAG "MjnwrnvY8eo"
Book which was published by Elsevier since 2014-07-14 have ISBNs, ISBN 13 Code is 9781483294902 and ISBN 10 Code is 1483294900
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Book which have "410 Pages" is Printed at BOOK under CategoryBusiness and Economics
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