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Testing for asymmetric information in reinsurance markets

Recurso electrónico / electronic resource
Registro MARC
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1001 ‎$0‎MAPA20150005229‎$a‎Yan, Zhiqiang
24510‎$a‎Testing for asymmetric information in reinsurance markets‎$c‎Zhiqiang Yan, Liang Hong
520  ‎$a‎Empirical studies on asymmetric information have mainly focused on primary insurance markets, but comparatively little attention has been given to reinsurance markets. This study investigates the existence of asymmetric information by testing for a positive correlation between coverage and ex post risk in three major reinsurance markets for the period 1995-2000 and finds that (1) asymmetric information problems are present in the private passenger auto liability and homeowners reinsurance markets, but not in the product liability reinsurance market; (2) retention limits are widely utilised to mitigate asymmetric information problems; (3) long-term contracting relationships are either rarely used or not effective in controlling asymmetric information problems.
650 4‎$0‎MAPA20080602529‎$a‎Mercado de reaseguros
650 4‎$0‎MAPA20080552367‎$a‎Reaseguro
650 4‎$0‎MAPA20080578879‎$a‎Análisis empírico
650 4‎$0‎MAPA20080606695‎$a‎Información asimétrica
650 4‎$0‎MAPA20080564049‎$a‎Riesgo moral
650 4‎$0‎MAPA20080582661‎$a‎Selección adversa
650 4‎$0‎MAPA20080619985‎$a‎Obligaciones contractuales
7001 ‎$0‎MAPA20150005984‎$a‎Hong, Liang
7730 ‎$w‎MAP20077100215‎$t‎Geneva papers on risk and insurance : issues and practice‎$d‎Geneva : The Geneva Association, 1976-‎$x‎1018-5895‎$g‎05/01/2015 Volumen 40 Número 1 - enero 2015 , p. 29-46