How Can Insurance Companies Compete With Mutual
Insurers? The Role of Commitment
Résumé
The aim of this paper is to analyze the impact of the existence of mutual firms on the behavior of insurance companies and more precisely to study in which situations an insurance company can enter a market controlled by mutual arrangements. Our approach differs from the existing literature as we integrate the investment choices of the insurance company and the fact that, because it commits on a fix contract, it can become insolvent. In such a situation we are able to
characterize the unique optimal choices of the monopolistic company and the conditions favoring
its appearance.
characterize the unique optimal choices of the monopolistic company and the conditions favoring
its appearance.
Domaines
Economies et finances
Fichier principal
2006-46s.pdf (94.23 Ko)
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2006-46.pdf (459.53 Ko)
Télécharger le fichier
Origine : Fichiers produits par l'(les) auteur(s)
Origine : Fichiers produits par l'(les) auteur(s)