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The Austrian Insurance Industry: A Structure, Conduct and Performance Analysis

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Author Info
Jedlicka, Lorenz (Department of Economics, BWZ, University of Vienna)
Jumah, Adusei (Department of Economics, BWZ, University of Vienna and Department of Economics and Finance, Institute for Advanced Studies, Vienna, Austria)

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Abstract

There exist a vast number of studies on the banking industry. However, the insurance industry remains relatively unexplored. Increasingly, Austrian insurance institutions are becoming important as financial intermediaries in the domestic market, and – based on proximity advantage – also in the Central and Eastern European markets. This paper applies the structure, conduct and performance (SCP) approach to a sample of 52 Austrian insurance firms. The main finding is that the standard SCP hypothesis of highly concentrated markets, which create incentives to engage in collusive behaviour and which in turn leads to higher industry profit rates, cannot be supported by the Austrian insurance industry leads to higher industry profit rates, cannot be supported by the Austrian insurance industry.

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File URL: http://www.ihs.ac.at/publications/eco/es-189.pdf
File Format: application/pdf
File Function: First version, 2006
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Publisher Info
Paper provided by Institute for Advanced Studies in its series Economics Series with number 189.

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Length: 27 pages
Date of creation: May 2006
Date of revision:
Handle: RePEc:ihs:ihsesp:189

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Related research
Keywords: Insurance industry; Market structure; Conduct and performance; Industrial organisation;

Find related papers by JEL classification:
G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies
L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

This paper has been announced in the following NEP Reports:

References listed on IDEAS
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    Other versions:
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    Other versions:
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  7. Baumol, William J & Willig, Robert D, 1981. "Fixed Costs, Sunk Costs, Entry Barriers, and Sustainability of Monopoly," The Quarterly Journal of Economics, MIT Press, vol. 96(3), pages 405-31, August. [Downloadable!] (restricted)
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