English, Article edition: Time Deductibles as Screening Devices: Competitive Markets Jaap Spreeuw; Martin Karlsson

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Time Deductibles as Screening Devices: Competitive Markets
Author
  • Jaap Spreeuw
  • Martin Karlsson
Physical Description
  • article
Notes
  • Seminal papers on asymmetric information in competitive insurance markets, analyzing the monetary deductible as a screening device, show that any existing equilibrium is of a separating type. High risks buy complete insurance, whereas low risks buy partial insurance-and this result holds for the Nash behavior as well as for the Wilson foresight. In this article, we analyze the strength of screening based on limitations to the period of coverage of the contract. We show that in this case (1) the Nash equilibrium may entail low risks not purchasing any insurance at all, and (2) under the Wilson foresight, a pooling equilibrium may exist. Copyright (c) The Journal of Risk and Insurance, 2009.
  • RePEc:bla:jrinsu:v:76:y:2009:i:2:p:261-278
Language
  • English
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