The Geneva Risk and Insurance Review 2010: We Have Learned Much Since Willett and Knight

Jean-François Outreville ()
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Jean-François Outreville: HEC Montreal, 3000 cote Sainte Catherine, Montreal, Quebec, Canada H3T 2A7.

The Geneva Papers on Risk and Insurance - Issues and Practice, 2011, vol. 36, issue 3, 476-487

Abstract: The purpose of this paper is to review and summarise the papers published in The Geneva Risk and Insurance Review in 2010. Historical reference to Willet and Knight is emphasised to illustrate the importance of risk and uncertainty in our modern economies and how it is still the starting point of economic research not only in public finance as proposed by Agnar Sandmo, but also in other papers published in this volume. Many issues touch upon anomalies like adverse selection, asymmetric information, moral hazard and rating restrictions that can influence the performance of insurance markets. These issues are of particular relevance for insurers and the proper functioning of insurance markets.

Date: 2011
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