Limit-Pricing and Entry into the Property and Liability Insurance Industry
AbstractThis study develops a dynamic limit-pricing model. The model tests whether the observed differences in rates of entry into property-liability markets can be explained by the differences in profit levels of existing firms, the rate of growth, and barriers to entry across states insurance markets of private passenger automobile insurance. The overall empirical findings provide some evidence that is consistent with the competitive market hypothesis.
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Bibliographic InfoArticle provided by Western Risk and Insurance Association in its journal Journal of Insurance Issues.
Volume (Year): 14 (1991)
Issue (Month): 2 ()
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