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http://hdl.handle.net/10419/22466
  

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dc.contributor.authorLohse, Timen_US
dc.contributor.authorRobledo, Julio R.en_US
dc.contributor.authorSchmidt, Ulrichen_US
dc.date.accessioned2009-01-29T14:59:54Z-
dc.date.available2009-01-29T14:59:54Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/22466-
dc.description.abstractMany public goods like dams, fire departments, and lighthouses do not provide direct utility but act more as insurance devices against floods, fire, and shipwreck. They either diminish the probability or the size of the loss. We extend the public good model with this insurance aspect and generalize Samuelson?s efficient allocation rule when self-insurance and self-protection expenditures are pure public goods. Some comparative static results with respect to changes in income and risk behavior are derived. As some of the sketched risks are insurable while some others are not, we introduce further the possibility of risk coverage by private market insurance. We analyze the interaction of such an insurance with the public good level, both for efficient provision and for private provision equilibria. It turns out that the levels of self-insurance and self-protection decrease when being privately provided. Moreover, it appears a strategic substitutability between the public good and market insurance which leads to an additional decline of the provision levels.en_US
dc.language.isoengen_US
dc.publisherUniversität Hannover, Fachbereich Wirtschaftswissenschaften Hannoveren_US
dc.relation.ispartofseriesDiskussionspapiere des Fachbereichs Wirtschaftswissenschaften, Universität Hannover 354en_US
dc.subject.jelH41en_US
dc.subject.jelG22en_US
dc.subject.ddc330en_US
dc.subject.keywordSelf-insuranceen_US
dc.subject.keywordself-protectionen_US
dc.subject.keywordefficient provision of public goodsen_US
dc.subject.keywordprivate provision of public goodsen_US
dc.subject.keywordmarket insuranceen_US
dc.subject.stwÖffentliches Guten_US
dc.subject.stwAllokationseffizienzen_US
dc.subject.stwVersicherungsökonomiken_US
dc.subject.stwBrandschutzen_US
dc.subject.stwSchiffssicherheiten_US
dc.subject.stwTheorieen_US
dc.titleSelf-Insurance and Self-Protection as Public Goodsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn52208947Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Universität Hannover

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