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Intermediation and (Mis-)Matching in Insurance Markets—Who Should Pay the Insurance Broker?

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  • Uwe Focht
  • Andreas Richter
  • Jörg Schiller

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  • Uwe Focht & Andreas Richter & Jörg Schiller, 2013. "Intermediation and (Mis-)Matching in Insurance Markets—Who Should Pay the Insurance Broker?," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(2), pages 329-350, June.
    • Handle: RePEc:bla:jrinsu:v:80:y:2013:i:2:p:329-350
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    File URL: http://hdl.handle.net/10.1111/j.1539-6975.2012.01475.x
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    References listed on IDEAS

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    1. Hugh Gravelle, 1993. "Product Price and Advice Quality: Implications of the Commission System in Life Assurance," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 18(1), pages 31-53, June.
    2. Joseph E. Stiglitz, 1977. "Monopoly, Non-linear Pricing and Imperfect Information: The Insurance Market," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 44(3), pages 407-430.
    3. Schultz, Christian, 2005. "Transparency on the consumer side and tacit collusion," European Economic Review, Elsevier, vol. 49(2), pages 279-297, February.
    4. Schultz, Christian, 2004. "Market transparency and product differentiation," Economics Letters, Elsevier, vol. 83(2), pages 173-178, May.
    5. Varian, Hal R, 1980. "A Model of Sales," American Economic Review, American Economic Association, vol. 70(4), pages 651-659, September.
    6. Darby, Michael R & Karni, Edi, 1973. "Free Competition and the Optimal Amount of Fraud," Journal of Law and Economics, University of Chicago Press, vol. 16(1), pages 67-88, April.
    7. J. David Cummins & Neil A. Doherty, 2006. "The Economics of Insurance Intermediaries," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 73(3), pages 359-396, September.
    8. Bolton, Patrick & Freixas, Xavier & Shapiro, Joel, 2007. "Conflicts of interest, information provision, and competition in the financial services industry," Journal of Financial Economics, Elsevier, vol. 85(2), pages 297-330, August.
    9. Regan, Laureen & Tennyson, Sharon, 1996. "Agent Discretion and the Choice of Insurance Marketing System," Journal of Law and Economics, University of Chicago Press, vol. 39(2), pages 637-666, October.
    10. Yavas, Abdullah, 1994. "Middlemen in Bilateral Search Markets," Journal of Labor Economics, University of Chicago Press, vol. 12(3), pages 406-429, July.
    11. Jiang Cheng & Elyas Elyasiani & Tzu‐Ting Lin, 2010. "Market Reaction to Regulatory Action in the Insurance Industry: The Case of Contingent Commission," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(2), pages 347-368, June.
    12. Posey, Lisa L. & Tennyson, Sharon, 1998. "The coexistence of distribution systems under price search: Theory and some evidence from insurance," Journal of Economic Behavior & Organization, Elsevier, vol. 35(1), pages 95-115, March.
    13. Gary Biglaiser, 1993. "Middlemen as Experts," RAND Journal of Economics, The RAND Corporation, vol. 24(2), pages 212-223, Summer.
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    Cited by:

    1. Lex, Christoph & Tennyson, Sharon, 2021. "EU intermediary regulation and its impact on insurance agent quality: Evidence from Germany," International Review of Law and Economics, Elsevier, vol. 68(C).
    2. Annika Pape, 2014. "Miscounselling in the German Insurance Market—Utility-Orientated Implications for the Meaning of Miscounselling," Journal of Consumer Policy, Springer, vol. 37(4), pages 561-582, December.
    3. Lukas Stricker & Joël Wagner & Angela Zeier Röschmann, 2023. "The Future of Insurance Intermediation in the Age of the Digital Platform Economy," JRFM, MDPI, vol. 16(9), pages 1-32, August.
    4. Tsai-Jyh Chen, 0. "The role of distribution channels in market discipline for the life insurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 0, pages 1-23.
    5. Annika Pape, 2014. "Liability Rule Failures? Evidence from German Court Decisions," Working Paper Series in Economics 300, University of Lüneburg, Institute of Economics.
    6. Robert Puelz, 2016. "Contingent Commissions and the Management of the Independent Agency," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 19(2), pages 225-248, September.
    7. Gao Siwei & Plehn-Dujowich Jose M., 2015. "Incentive Contracting with an Independent Underwriter: Does It Benefit Insurers?," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 9(2), pages 231-259, July.
    8. Thomas Köhne & Christoph Brömmelmeyer, 2018. "The New Insurance Distribution Regulation in the EU—A Critical Assessment from a Legal and Economic Perspective," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(4), pages 704-739, October.
    9. Jacob Dexe & Ulrik Franke & Alexander Rad, 2021. "Transparency and insurance professionals: a study of Swedish insurance practice attitudes and future development," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(4), pages 547-572, October.
    10. Tsai-Jyh Chen, 2021. "The role of distribution channels in market discipline for the life insurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(1), pages 107-129, January.

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