Browsing NHH Brage by Subject "pareto optimal risk exchange"
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The Nash bargaining solution vs. equilibrium in a reinsurance syndicate
(Discussion paper, Working paper, 2008-05)We compare the Nash bargaining solution in a reinsurance syndicate to the competitive equilibrium allocation, focusing on uncertainty and risk aversion. Restricting attention to proportional reinsurance treaties, we find ... -
Wealth Effects on Demand for Insurance
(Discussion paper, Working paper, 2007-01)A standard result states that under decreasing absolute risk aversion the indifference premium of the insured is a decreasing function of wealth. This has been interpreted to mean that insurance is an inferior good, which ...