Insurance Economics

Insurance Economics combines economic analysis of decision-making under risk, risk management, insurance demand, regulation, and division of labor between private and social insurance. It is appropriate for advanced undergraduate and graduate students and provides a background to understand current research. The second edition has been extensively revised and expanded to represent the evolution of risk-related research, with new chapters on Insurance Demand II and evidence and research from the U.S. and China.

Format: Hardback
Length: 531 pages
Publication date: 06 October 2021
Publisher: Springer Nature Switzerland AG

Insurance Economics is a comprehensive and interdisciplinary field that encompasses the economic analysis of decision-making under risk, risk management, and the demand for insurance among individuals and corporations. It delves into the objectives pursued by insurance companies, the management tools employed, the regulation of the insurance industry, and the division of labor between private and social insurance. This text is particularly valuable for advanced undergraduate and graduate students of economics, management, and finance, as it provides the necessary background to understand current research in these fields.

The book employs a rigorous analytical approach, combining theoretical arguments with empirical evidence to support its conclusions. Throughout the text, key results are summarized in conclusion sections, allowing readers to assess their understanding and comprehension of the material. Issues discussed include paradoxes in decision-making under risk, the phenomenon of moral hazard and adverse selection, including the potential for a "death spiral," and future challenges facing both private and social insurance, such as globalization and the availability of genetic information.

In its second edition, Insurance Economics has undergone extensive revision. Notably, substantial content has been added to reflect the evolving nature of risk-related research. A new chapter, "Insurance Demand II: Nontraditional Approaches," has been introduced to address recent developments in risk theory and insurance. Previous discussions on enterprise risk management, long-term care insurance, adverse selection, and moral hazard have been updated to reflect the latest developments in these areas. Furthermore, evidence and research from the United States and China have been incorporated to broaden the global reach of the text.

Insurance Economics is a valuable resource for scholars, researchers, and professionals seeking to gain a deeper understanding of the economic aspects of insurance and risk management. Its comprehensive coverage, rigorous analysis, and up-to-date information make it an essential text for anyone interested in this field.

Weight: 980g
Dimension: 188 x 242 x 38 (mm)
ISBN-13: 9783030803896
Edition number: 2nd ed. 2021