Filtern
Erscheinungsjahr
- 2011 (1)
Dokumenttyp
- Arbeitspapier (1)
Sprache
- Englisch (1) (entfernen)
Volltext vorhanden
- ja (1)
Gehört zur Bibliographie
- nein (1)
Schlagworte
- Deductible Insurance (1) (entfernen)
Institut
Insurance contracts are often complex and difficult to verify outside the insurance relation. We show that standard one-period insurance policies with an upper limit and a deductible are the optimal incentive-compatible contracts in a competitive market with repeated interaction. Optimal group insurance policies involve a joint upper limit but individual deductibles and insurance brokers can play a role implementing such contracts for the group of clients. Our model provides new insights and predictions about the determinants of insurance.