Coalition-Proof Implementation of Competitive Equilibria on a Constrained Reinsurance Market
AbstractWe derive from Bernis  a strategic mechanism which fully implements the set of competitive equilibria on a dynamically incomplete reinsurance market VIA Nash equilibria. The mechanism is feasible, and such that the set of coalition proof Nash equilibria coincides with that of Nash equilibria. We thus provide a general framework for the design of decentralized mechanisms on the reinsurance market whose outcomes are efficient even when collusion among insurers is allowed.
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Bibliographic InfoPaper provided by UniversitÃ© PanthÃ©on-Sorbonne (Paris 1) in its series Papiers d'Economie MathÃ©matique et Applications with number 2000.83.
Length: 21 pages
Date of creation: 2000
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MARKET ; COMPETITION ; INSURANCE;
Find related papers by JEL classification:
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- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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