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Asymmetric Information in the market for automobile insurance : evidence from Germany

Recurso electrónico / electronic resource
Registro MARC
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1001 ‎$0‎MAPA20150002389‎$a‎Spindler, Martin
24510‎$a‎Asymmetric Information in the market for automobile insurance‎$b‎: evidence from Germany‎$c‎Martin Spindler, Joachim Winter, Steffen Hagmayer
520  ‎$a‎Asymmetric information is an important phenomenon in insurance markets, but the empirical evidence on the extent of adverse selection and moral hazard is mixed. Because of its implications for pricing, contract design, and regulation, it is crucial to test for asymmetric information in specific insurance markets. In this article, we analyze a recent data set on automobile insurance in Germany, the largest such market in Europe. We present and compare a variety of statistical testing procedures. We find that the extent of asymmetric information depends on coverage levels and on the specific risks covered, which enhances the previous literature. Within the framework of Chiappori et al. (2006), we also test whether drivers have realistic expectations concerning their loss distribution, and we analyze the market structure.
650 4‎$0‎MAPA20080591182‎$a‎Gerencia de riesgos
650 4‎$0‎MAPA20080586294‎$a‎Mercado de seguros
650 4‎$0‎MAPA20080606695‎$a‎Información asimétrica
650 4‎$0‎MAPA20080603779‎$a‎Seguro de automóviles
650 4‎$0‎MAPA20080585266‎$a‎Factores de riesgo
650 4‎$0‎MAPA20080597733‎$a‎Modelos estadísticos
650 4‎$0‎MAPA20080601492‎$a‎Estudios comparativos
650 4‎$0‎MAPA20080584290‎$a‎Contrato de seguro
651 1‎$0‎MAPA20080637996‎$a‎Alemania
7001 ‎$0‎MAPA20150005670‎$a‎Winter, Joachim
7001 ‎$0‎MAPA20150005687‎$a‎Hagmayer, Steffen
7730 ‎$w‎MAP20077000727‎$t‎The Journal of risk and insurance‎$d‎Nueva York : The American Risk and Insurance Association, 1964-‎$x‎0022-4367‎$g‎01/12/2014 Volumen 81 Número 4 - diciembre 2014 , p. 781-801