Abstract
The purpose of the study is to try to understand the consequences of regulation and competition for insurance markets. Ideally this would involve asking, for each country, how performance under its current regulatory regime compares with what its performance would have been under a different regime, either competitive or with a different sort of regulation. For most countries, a direct investigation of this question is impossible: there is, for example, no unregulated Germany to compare with regulated Germany. Only in the United States, where some states were subject to regulations different from others, is such an approach possible, and the volume contains such a comparison.
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Notes and References
Finsinger, J. (1984), Eine positive Theorie der Regulierung, Schriften des Vereins für Socialpolitik, Neue Folge Band 140, Ansprüche, Eigentums- und Verfügungsrechte, Berlin, pp. 459–76.
See Munch, P. and D. Smallwood, Solvency Regulation in the Property-Liability Insurance Industry: Empirical Evidence’, Bell Journal of Economics, vol. 11, no. 1, (1980) pp. 261–83;
and Finsinger, J. and M. V. Pauly (1984), ‘Reserve Levels and Reserve Requirements for Profit Maximizing Firms’, in G. Bamberg and K. Spremann (eds), Risk and Capital, Berlin/Heidelberg/Tokyo/New York, pp. 160–80.
Finsinger, J., E. Hammond and J. Japp (1985), Insurance: Competition or Regulation? A Comparative Study of the Insurance Markets in the United Kingdom and the Federal Republic of Germany, Institute for Fiscal Studies Report No. 19 (London).
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© 1986 Jörg Finsinger and Mark V. Pauly
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Finsinger, J., Pauly, M. (1986). Introduction. In: Finsinger, J., Pauly, M.V. (eds) The Economics of Insurance Regulation. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-18397-5_1
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DOI: https://doi.org/10.1007/978-1-349-18397-5_1
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