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Non-market insurance and intrafamily transfers

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  • Andres Victorio

Abstract

This paper investigates the possibility that transfers of money between household members arise because a family member wishes to pay another an insurance premium in exchange for the right to collect an insurance coverage if a loss is suffered. The motive for the transfers is known as non-market insurance, and it is compared with altruism, bequests, and child-services-for-money (ABC). Some empirical evidence for non-market insurance is found based upon the panel study of income dynamics.

Suggested Citation

  • Andres Victorio, 2002. "Non-market insurance and intrafamily transfers," Applied Economics Letters, Taylor & Francis Journals, vol. 9(2), pages 99-102.
  • Handle: RePEc:taf:apeclt:v:9:y:2002:i:2:p:99-102
    DOI: 10.1080/13504850110049414
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    References listed on IDEAS

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    1. Becker, Gary S, 1974. "A Theory of Social Interactions," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1063-1093, Nov.-Dec..
    2. Kahn Charles M. & Mookherjee Dilip, 1995. "Coalition Proof Equilibrium in an Adverse Selection Insurance Economy," Journal of Economic Theory, Elsevier, vol. 66(1), pages 113-138, June.
    3. Bernheim, B Douglas & Shleifer, Andrei & Summers, Lawrence H, 1986. "The Strategic Bequest Motive," Journal of Labor Economics, University of Chicago Press, vol. 4(3), pages 151-182, July.
    4. Maria G. Perozek, 1998. "A Reexamination of the Strategic Bequest Motive," Journal of Political Economy, University of Chicago Press, vol. 106(2), pages 423-445, April.
    5. Nelson, Forrest & Olson, Lawrence, 1978. "Specification and Estimation of a Simultaneous-Equation Model with Limited Dependent Variables," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 19(3), pages 695-709, October.
    6. Cox, Donald, 1987. "Motives for Private Income Transfers," Journal of Political Economy, University of Chicago Press, vol. 95(3), pages 508-546, June.
    7. Hayashi, Fumio, 1995. "Is the Japanese Extended Family Altruistically Linked? A Test Based on Engel Curves," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 661-674, June.
    8. Victorio, Andres G. & Arnott, Richard J., 1993. "Wealth, bequests and attention," Economics Letters, Elsevier, vol. 42(2-3), pages 149-154.
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    Cited by:

    1. Carmen Li & Javier Olivera, 2009. "Cobertura y afiliación al sistema privado de pensiones del Perú," Capítulos de Libros PUCP / Chapters of PUCP books,in: Efraín Gonzales de Olarte & Javier M. Iguiñiz Echeverría (ed.), Desarrollo económico y bienestar. Homenaje a Máximo Vega-Centeno, edition 1, chapter 8, pages 221-239 Fondo Editorial - Pontificia Universidad Católica del Perú.
    2. Miriti, M'Kiaira Kimathi, 2004. "Topping Informal Risk Pooling With Indexed Insurance: A Var Application," 2004 Annual meeting, August 1-4, Denver, CO 20239, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Li, Carmen A & Olivera, Javier, 2005. "Participation in the Peruvian reformed pension system," Economics Discussion Papers 3618, University of Essex, Department of Economics.

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