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Reflexion sur l'optimalite des contrats d'assurance

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Listed:
  • Spaeter, S.

Abstract

This paper deals with the economic and technical impact of the insurance constraint on the optimal insurance contracts. We show that restricting the set of admissible indemnity fucntions to those that do not allow fo indemnities larger than the damage does not invalidate the Pareto-optimality of the policies obtained with a strictly positive marginal cost of insurance. Besides, if the administrative costs borne by the insurer only comprised fixed costs, over-insurance may be a better solution in some environments with two positively correlated risks. This study takes place in an economy without information asymmetry.

Suggested Citation

  • Spaeter, S., 1998. "Reflexion sur l'optimalite des contrats d'assurance," Ecole des Hautes Etudes Commerciales de Montreal- 98-10, Ecole des Hautes Etudes Commerciales de Montreal-Chaire de gestion des risques..
    • Handle: RePEc:fth:etcori:98-10
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    More about this item

    Keywords

    INSURANCE ; CONTRACTS ; COSTS;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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