Intermediaries in the Insurance Market
Part of the Contributions to Economics book series (CE)
KeywordsInsurance Market Insurance Contract Insurance Product Intermediated Exchange Market Side
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- 2.Insurance companies also act under incomplete and asymmetric information about consumers’ characteristics and actions. This may result in adverse selection and/ or moral hazard behavior. For an overview of the relevant issues and further references to this well-explored problem in insurance markets, see Chiappori (2000), Crocker and Snow (2000), Dionne (2000), Dionne, Doherty and Fombaron (2000), Winter (2000), Zweifel and Eisen (2000, 291–344).Google Scholar
- 4.According to Rose (1999, 41) there are three types of entrepreneurs operating in markets for information: information producers, which use information as raw material, information middleman, which sell information as a commodity, and information service providers, which “perform information processing on behalf of their clients”. Although no strict assignment of these types to transaction or information intermediaries is possible, information intermediaries more often act as pure information middlemen.Google Scholar
© Physica-Verlag Heidelberg 2007