Foundations of Insurance Economics

Readings in Economics and Finance

  • Georges Dionne
  • Scott E. Harrington

Table of contents

  1. Front Matter
    Pages i-xv
  2. Introduction

    1. Georges Dionne, Scott E. Harrington
      Pages 1-48
  3. Utility, Risk, and Risk Aversion

    1. Michael Rothschild, Joseph E. Stiglitz
      Pages 99-117
  4. Demand for Insurance

    1. Jan Mossin
      Pages 118-133
    2. Harris Schlesinger, Neil A. Doherty
      Pages 134-155
    3. Isaac Ehrlich, Gary S. Becker
      Pages 164-189
    4. David Mayers, Clifford W. Smith Jr.
      Pages 190-205
  5. Insurance and Resource Allocation

    1. Kenneth J. Arrow
      Pages 220-229
    2. Karl Borch
      Pages 230-250
    3. Artur Raviv
      Pages 251-263
    4. Richard E. Kihlstrom, Alvin E. Roth
      Pages 264-279
  6. Moral Hazard

    1. Steven Shavell
      Pages 280-301
    2. Sanford J. Grossman, Oliver D. Hart
      Pages 302-340
    3. S. Shavell
      Pages 341-354
  7. Adverse Selection

    1. Russell Cooper, Beth Hayes
      Pages 386-406
    2. Howard Kunreuther, Mark Pauly
      Pages 424-443
  8. Market Structure and Organization Form

  9. Insurance Pricing

    1. Nahum Biger, Yehuda Kahane
      Pages 560-571
    2. J. David Cummins
      Pages 592-608
    3. J. David Cummins, J. François Outreville
      Pages 609-625
    4. Scott E. Harrington
      Pages 626-684
  10. Insurance Regulation

About this book


Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.


Assistance Finance Financing growth

Editors and affiliations

  • Georges Dionne
    • 1
  • Scott E. Harrington
    • 2
  1. 1.Université de MontréalCanada
  2. 2.University of South CarolinaUSA

Bibliographic information

  • DOI
  • Copyright Information Springer Science+Business Media B.V. 1992
  • Publisher Name Springer, Dordrecht
  • eBook Packages Springer Book Archive
  • Print ISBN 978-90-481-5789-1
  • Online ISBN 978-94-015-7957-5
  • Series Print ISSN 0924-5014
  • Buy this book on publisher's site