The impact of intermediaries on insurance demand and pricing
Author
Abstract
Suggested Citation
DOI: 10.1016/j.insmatheco.2025.03.002
Download full text from publisher
As the access to this document is restricted, you may want to
for a different version of it.References listed on IDEAS
- Chen, Lv & Shen, Yang, 2018. "On A New Paradigm Of Optimal Reinsurance: A Stochastic Stackelberg Differential Game Between An Insurer And A Reinsurer," ASTIN Bulletin, Cambridge University Press, vol. 48(2), pages 905-960, May.
- Levon Barseghyan & Francesca Molinari & Ted O'Donoghue & Joshua C. Teitelbaum, 2013.
"The Nature of Risk Preferences: Evidence from Insurance Choices,"
American Economic Review, American Economic Association, vol. 103(6), pages 2499-2529, October.
- Barseghyan, Levon & Molinari, Francesca & O'Donoghue, Ted & Teitelbaum, Joshua C., 2011. "The Nature of Risk Preferences: Evidence from Insurance Choices," Working Papers 11-03, Cornell University, Center for Analytic Economics.
- Levon Barseghyan & Francesca Molinari & Ted O'Donoghue & Joshua C. Teitelbaum, 2012. "The Nature of Risk Preferences: Evidence from Insurance Choices," CESifo Working Paper Series 3933, CESifo.
- Li, Danping & Young, Virginia R., 2022. "Stackelberg differential game for reinsurance: Mean-variance framework and random horizon," Insurance: Mathematics and Economics, Elsevier, vol. 102(C), pages 42-55.
- 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.
- H.S.E. Gravelle, 1991. "Product Price and Advice Quality: Implications of the Commission System in Life Assurance," Working Papers 245, Queen Mary University of London, School of Economics and Finance.
- MOSSIN, Jan, 1968. "Aspects of rational insurance purchasing," LIDAM Reprints CORE 23, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- 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.
- D'Arcy, Stephen P & Doherty, Neil A, 1990. "Adverse Selection, Private Information, and Lowballing in Insurance Markets," The Journal of Business, University of Chicago Press, vol. 63(2), pages 145-164, April.
- Cao, Jingyi & Li, Dongchen & Young, Virginia R. & Zou, Bin, 2022. "Stackelberg differential game for insurance under model ambiguity," Insurance: Mathematics and Economics, Elsevier, vol. 106(C), pages 128-145.
- 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.
- Alma Cohen & Liran Einav, 2007.
"Estimating Risk Preferences from Deductible Choice,"
American Economic Review, American Economic Association, vol. 97(3), pages 745-788, June.
- Alma Cohen & Liran Einav, 2005. "Estimating Risk Preferences from Deductible Choice," NBER Working Papers 11461, National Bureau of Economic Research, Inc.
- Alma Cohen & Liran Einav, 2005. "Estimating Risk Preferences from Deductible Choice," Discussion Papers 04-031, Stanford Institute for Economic Policy Research.
- Pinar Karaca†Mandic & Roger Feldman & Peter Graven, 2018. "The Role of Agents and Brokers in the Market for Health Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 85(1), pages 7-34, March.
- Roman Inderst & Marco Ottaviani, 2009.
"Misselling through Agents,"
American Economic Review, American Economic Association, vol. 99(3), pages 883-908, June.
- Inderst, Roman & Ottaviani, Marco, 2009. "Misselling through agents," IMFS Working Paper Series 36, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- 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.
- Boonen, Tim J. & Ghossoub, Mario, 2023. "Bowley vs. Pareto optima in reinsurance contracting," European Journal of Operational Research, Elsevier, vol. 307(1), pages 382-391.
- Chen, Lv & Shen, Yang, 2019. "Stochastic Stackelberg differential reinsurance games under time-inconsistent mean–variance framework," Insurance: Mathematics and Economics, Elsevier, vol. 88(C), pages 120-137.
- Mark Egan & Shan Ge & Johnny Tang, 2022.
"Conflicting Interests and the Effect of Fiduciary Duty: Evidence from Variable Annuities,"
The Review of Financial Studies, Society for Financial Studies, vol. 35(12), pages 5334-5386.
- Mark L. Egan & Shan Ge & Johnny Tang, 2020. "Conflicting Interests and the Effect of Fiduciary Duty — Evidence from Variable Annuities," NBER Working Papers 27577, National Bureau of Economic Research, Inc.
- Chan, Fung-Yee & Gerber, Hans U., 1985. "The Reinsurer's Monopoly and the Bowley Solution," ASTIN Bulletin, Cambridge University Press, vol. 15(2), pages 141-148, November.
- Levon Barseghyan & Francesca Molinari & Joshua C. Teitelbaum, 2016. "Inference under stability of risk preferences," Quantitative Economics, Econometric Society, vol. 7(2), pages 367-409, July.
- Tomas Björk & Mariana Khapko & Agatha Murgoci, 2017. "On time-inconsistent stochastic control in continuous time," Finance and Stochastics, Springer, vol. 21(2), pages 331-360, April.
- Cao, Jingyi & Li, Dongchen & Young, Virginia R. & Zou, Bin, 2023. "Reinsurance games with two reinsurers: Tree versus chain," European Journal of Operational Research, Elsevier, vol. 310(2), pages 928-941.
- Yu Yuan & Zhibin Liang & Xia Han, 2022. "Robust reinsurance contract with asymmetric information in a stochastic Stackelberg differential game," Scandinavian Actuarial Journal, Taylor & Francis Journals, vol. 2022(4), pages 328-355, April.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Georges Dionne & Scott Harrington, 2017. "Insurance and Insurance Markets," Working Papers 17-2, HEC Montreal, Canada Research Chair in Risk Management.
- 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).
- Liang, Zongxia & Xia, Yi & Zou, Bin, 2024. "A two-layer stochastic game approach to reinsurance contracting and competition," Insurance: Mathematics and Economics, Elsevier, vol. 119(C), pages 226-237.
- Ghossoub, Mario & Li, Bin & Shi, Benxuan, 2025. "Bowley-optimal convex-loaded premium principles," Insurance: Mathematics and Economics, Elsevier, vol. 121(C), pages 157-180.
- Cao, Jingyi & Li, Dongchen & Young, Virginia R. & Zou, Bin, 2023. "Reinsurance games with two reinsurers: Tree versus chain," European Journal of Operational Research, Elsevier, vol. 310(2), pages 928-941.
- Alex Gershkov & Benny Moldovanu & Philipp Strack & Mengxi Zhang, 2023. "Optimal Insurance: Dual Utility, Random Losses and Adverse Selection," ECONtribute Discussion Papers Series 242, University of Bonn and University of Cologne, Germany.
- Armantier, Olivier & Foncel, Jérôme & Treich, Nicolas, 2023.
"Insurance and portfolio decisions: Two sides of the same coin?,"
Journal of Financial Economics, Elsevier, vol. 148(3), pages 201-219.
- Armantier, Olivier & Foncel, Jérôme & Treich, Nicolas, 2023. "Insurance and Portfolio Decisions: Two Sides of the Same Coin?," TSE Working Papers 23-1425, Toulouse School of Economics (TSE).
- Olivier Armantier & Jérôme Foncel & Nicolas Treich, 2023. "Insurance and portfolio decisions: Two sides of the same coin?," Post-Print hal-04062463, HAL.
- David Landriault & Bin Li & Hong Li & Yuanyuan Zhang, 2024. "Contract Structure and Risk Aversion in Longevity Risk Transfers," Papers 2409.08914, arXiv.org.
- Li, Danping & Young, Virginia R., 2022. "Stackelberg differential game for reinsurance: Mean-variance framework and random horizon," Insurance: Mathematics and Economics, Elsevier, vol. 102(C), pages 42-55.
- Zhang, Caibin & Liang, Zhibin & Yuan, Yu, 2024. "Stochastic differential investment and reinsurance game between an insurer and a reinsurer under thinning dependence structure," European Journal of Operational Research, Elsevier, vol. 315(1), pages 213-227.
- Cao, Jingyi & Li, Dongchen & Young, Virginia R. & Zou, Bin, 2022. "Stackelberg differential game for insurance under model ambiguity," Insurance: Mathematics and Economics, Elsevier, vol. 106(C), pages 128-145.
- Zhu, Michael B. & Ghossoub, Mario & Boonen, Tim J., 2023. "Equilibria and efficiency in a reinsurance market," Insurance: Mathematics and Economics, Elsevier, vol. 113(C), pages 24-49.
- Keith Marzilli Ericson & Philipp Kircher & Johannes Spinnewijn & Amanda Starc, 2021.
"Inferring Risk Perceptions and Preferences Using Choice from Insurance Menus: Theory and Evidence,"
The Economic Journal, Royal Economic Society, vol. 131(634), pages 713-744.
- Keith Marzilli Ericson & Philipp Kircher & Johannes Spinnewijn & Amanda Starc, 2015. "Inferring Risk Perceptions and Preferences using Choice from Insurance Menus: Theory and Evidence," NBER Working Papers 21797, National Bureau of Economic Research, Inc.
- Ericson, Keith Marzilli & Kircher, Philipp & Spinnewijn, Johannes & Starc, Amanda, 2015. "Inferring risk perceptions and preferences using choice from insurance menus: theory and evidence," LSE Research Online Documents on Economics 87780, London School of Economics and Political Science, LSE Library.
- Ericson, Keith Marzilli & Kircher, Philipp & Spinnewijn, Johannes, 2020. "Inferring risk perceptions and preferences using choice from insurance menus: theory and evidence," LSE Research Online Documents on Economics 106266, London School of Economics and Political Science, LSE Library.
- Spinnewijn, Johannes & Kircher, Philipp & Marzilli Ericson, Keith & Starc, Amanda, 2015. "Inferring Risk Perceptions and Preferences using Choice from Insurance Menus: Theory and Evidence," CEPR Discussion Papers 10981, C.E.P.R. Discussion Papers.
- Zhang, Yawen & Zhang, Caibin, 2024. "Stackelberg differential reinsurance and investment game for a dependent risk model with Ornstein–Uhlenbeck process," Statistics & Probability Letters, Elsevier, vol. 214(C).
- L. A. Franzoni, 2016. "Optimal liability design under risk and ambiguity," Working Papers wp1048, Dipartimento Scienze Economiche, Universita' di Bologna.
- Fezzi, Carlo & Menapace, Luisa & Raffaelli, Roberta, 2021. "Estimating risk preferences integrating insurance choices with subjective beliefs," European Economic Review, Elsevier, vol. 135(C).
- Ghossoub, Mario & Zhu, Michael B., 2024. "Stackelberg equilibria with multiple policyholders," Insurance: Mathematics and Economics, Elsevier, vol. 116(C), pages 189-201.
- Yann Braouezec & John Cagnol, 2023.
"Theoretical Foundations of Community Rating by a Private Monopolist Insurer: Framework, Regulation, and Numerical Analysis,"
Papers
2309.15269, arXiv.org, revised Dec 2023.
- Yann Braouezec & John Cagnol, 2024. "Theoretical Foundations of Community Rating by a Private Monopolist Insurer: Framework, Regulation, and Numerical Analysis," Working Papers hal-04373063, HAL.
- Levon Barseghyan & Francesca Molinari & Matthew Thirkettle, 2021.
"Discrete Choice under Risk with Limited Consideration,"
American Economic Review, American Economic Association, vol. 111(6), pages 1972-2006, June.
- Levon Barseghyan & Francesca Molinari & Matthew Thirkettle, 2019. "Discrete Choice under Risk with Limited Consideration," Papers 1902.06629, arXiv.org, revised Jan 2021.
- Levon Barseghyan & Francesca Molinari & Matthew Thirkettle, 2020. "Discrete choice under risk with limited consideration," CeMMAP working papers CWP28/20, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Levon Barseghyan & Francesca Molinari & Matthew Thirkettle, 2019. "Discrete choice under risk with limited consideration," CeMMAP working papers CWP08/19, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Zongxia Liang & Yi Xia & Bin Zou, 2024. "A Two-layer Stochastic Game Approach to Reinsurance Contracting and Competition," Papers 2405.06235, arXiv.org, revised Sep 2024.
More about this item
Keywords
; ; ; ;JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:insuma:v:122:y:2025:i:c:p:143-156. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/505554 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.