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The Welfare Economics of Insurance Contracts that pay off by Reducing Price

Author

Listed:
  • Nyman, J.A.

Abstract

The paper suggests that a portion of moral hazard is due to income transfers and that this portion of moral hazard should be excluded from the welfare loss Calculations. Only the portion of moral hazard that is due to the pure price effect has conventional welfare loss implications.

Suggested Citation

  • Nyman, J.A., 1999. "The Welfare Economics of Insurance Contracts that pay off by Reducing Price," Papers 308, Minnesota - Center for Economic Research.
    • Handle: RePEc:fth:minner:308
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    Citations

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    Cited by:

    1. John A. Nyman, 2012. "The Value of Health Insurance," Chapters, in: Andrew M. Jones (ed.), The Elgar Companion to Health Economics, Second Edition, chapter 9, Edward Elgar Publishing.
    2. Nyman, John A., 1999. "The economics of moral hazard revisited," Journal of Health Economics, Elsevier, vol. 18(6), pages 811-824, December.

    More about this item

    Keywords

    INSURANCE ; RISK;

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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