Optimal brokerage commissions for fair insurance: A first order approach
GENEVA Risk and Insurance Review, ISSN: 1554-964X, Vol: 36, Issue: 2, Page: 189-201
2011
- 3Citations
- 1Usage
- 7Captures
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
Metrics Details
- Citations3
- Citation Indexes3
- CrossRef2
- Usage1
- Abstract Views1
- Captures7
- Readers7
Article Description
This paper studies a principal-agent insurance brokerage problem with a risk-averse principal (an insured) and a risk-neutral agent (a broker). The concept of mean-preserving, spread-reducing (MPSR) effort is introduced to model the broker's activities. Using the first-order approach, it is shown that under some common conditions, the insured may concavify the reward function to induce the risk-neutral agent to exert MPSR brokering effort. These conditions, together with an additional condition, guarantee the validity of the first-order approach even when the monotone likelihood ratio condition (used exclusively to justify the first-order approach) is violated. © 2011 The International Association for the Study of Insurance Economics 1554-964X/11.
Bibliographic Details
http://www.scopus.com/inward/record.url?partnerID=HzOxMe3b&scp=82455188204&origin=inward; http://dx.doi.org/10.1057/grir.2010.11; http://link.springer.com/10.1057/grir.2010.11; http://link.springer.com/content/pdf/10.1057/grir.2010.11; http://link.springer.com/content/pdf/10.1057/grir.2010.11.pdf; http://link.springer.com/article/10.1057/grir.2010.11/fulltext.html; https://commons.ln.edu.hk/sw_master/6609; https://commons.ln.edu.hk/cgi/viewcontent.cgi?article=7677&context=sw_master; https://dx.doi.org/10.1057/grir.2010.11; https://link.springer.com/article/10.1057/grir.2010.11
Springer Science and Business Media LLC
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