We present in this paper, different contexts under which pooling equilibria emerge in insurance economics. A pooling equilibrium may emerge when it is not optimal (or not feasible or not allowed) to offer different contracts to different agents. As a result, agents with different risk types are...
We present in this paper, different contexts under which pooling equilibria emerge in insurance economics. A pooling equilibrium may emerge when it is not optimal (or not feasible or not allowed) to offer different contracts to different agents. As a result, agents with different risk types are...
pooling equilibriumseparating equilibriumcoinsurancedeductiblestop-lossThis chapter summarizes the many aspects of public policy for health care. I first consider ... DM Cutler - 《Handbook of Public Economics》 被引量: 261发表: 2002年 Repeated Insurance Contracts with Adverse Selection and Limited Commi...
The evolutionary economics advocates that the "co-evolution" model which features the historical time concept should be substituted for the equilibrium model adopted by the mainstream economics. 演化经济学主张用具有历史时间概念的"共同演化"模式替代新古典经济学的均衡模式,将主流经济学忽略的诸如制度、文化...
In the law and economics framework of Ayres and Mitts, the statutes promote a "pooling" rather than a "separating" equilibrium. In purely financial or commercial settings, this sort of forcing may not be inappropriate, and may in fact be constitutionally necessary. However, with very few ...
where in solving the model we impose the terminal condition that \(\Delta bf=0\) to find the equilibrium real exchange rate. The real exchange rate is defined as: $${q}_{t}=\frac{{Q}_{t}{P}_{h,t}^{*}}{{P}_{h,t}}$$ (20) The real interest rate is calculated by the...
Common Property RightsRisk-PoolingSpacial VariabilityDynamic ProgrammingAs weather patterns across the globe change in response to global warming, we should expect more strain on existing institutions. This paper demonstrates how weather risk induces farmers into a risk-pooling equilibrium whereby private ...
Economic regions, such as urban agglomerations, face external demand and price shocks that produce income risk. Workers in large and diversified agglomerations may benefit from reduced wage volatility, while firms may outsource the production of intermediate goods and realize benefits from Chamberlinian ...
- 《International Journal of Production Economics》 被引量: 0发表: 2020年 Comment on "Strategic Information Management Under Leakage in a Supply Chain" The authors present a composite equilibrium consisting of separating and pooling outcomes in different parameter regions and claim that it satisfies ...
2023, Research in Transportation Economics Show abstract Dynamic tradable credit scheme for multimodal urban networks 2023, Transportation Research Part C: Emerging Technologies Show abstract Equilibrium analysis of morning commuting and parking under spatial capacity allocation in the autonomous vehicle environm...