Foundations and Trends® in Microeconomics > Vol 4 > Issue 1–2

The Microeconomics of Insurance

Ray Rees, Institut für Volkswirtschaftslehre, University of Munich, Germany, Ray.Rees@lrz.uni-muenchen.de Achim Wambach, Department of Economics, University of Cologne, Germany, wambach@wiso.uni-koeln.de
 
Suggested Citation
Ray Rees and Achim Wambach (2008), "The Microeconomics of Insurance", Foundations and Trends® in Microeconomics: Vol. 4: No. 1–2, pp 1-163. http://dx.doi.org/10.1561/0700000023

Published: 25 Feb 2008
© 2008 R. Rees and A. Wambach
 
Subjects
Health Economics
 

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In this article:
1 Introduction
2 The Demand for Insurance
3 The Supply of Insurance
4 Adverse Selection
5 Moral Hazard
References

Abstract

In this relatively short survey, we present the core elements of the microeconomic analysis of insurance markets at a level suitable for senior undergraduate and graduate economics students. The aim of this analysis is to understand how insurance markets work, what their fundamental economic functions are, and how efficiently they may be expected to carry these out.

DOI:10.1561/0700000023
ISBN: 978-1-60198-108-0
176 pp. $99.00
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ISBN: 978-1-60198-109-7
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Table of contents:
1 Introduction
2 The Demand for Insurance
3 The Supply of Insurance
4 Adverse Selection
5 Moral Hazard
Bibliography

The Microeconomics of Insurance

The Microeconomics of Insurance presents the core elements of the microeconomic analysis of insurance markets. The aim of this analysis is to understand how insurance markets work, their fundamental economic functions, and how efficiently insurance markets perform. Topics include the variables influencing the demand for insurance, the supply of insurance, premium setting, regulation of insurance markets, adverse selection and moral hazard. It is presented in a straightforward manner such that it is accessible to senior undergraduate and graduate economics students, insurance professionals, and researchers.

 
MIC-023