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Title:When prices hardly matter: Incomplete insurance contracts and markets for repair goods PDF Logo
Authors:Nell, Martin
Richter, Andreas
Schiller, Jörg
Issue Date:2005
Series/Report no.:Working Papers on Risk and Insurance 14
Abstract:This paper locks at markets charaterized by the fact that the demand side is insured. In these markets a consumer purchases a good to compensate consequences of unfavorable events, such as an accident or an illness. Insurance policies in most lines of insurance base indemnity on the insured's actual expenses, i. e., the insured would be partially or completely reimbursed when purchased certain goods. In this setting we discuss the interaction between insurance and repair markets by focusing, on the one hand, upon on development of prices and the market structure in markets with insured customers, and, on the other hand, the resulting backlash on optimal insurance contracting.
Subjects:insurance
incomplete contracts
repair markets
JEL:C72
D43
G22
Document Type:Working Paper
Appears in Collections:Working Papers on Risk and Insurance, Institut für Versicherungsbetriebslehre, Universität Hamburg

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