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Contract farming as partial insurance
World Development, 2021Abstract A core result of contract theory is that contracts can help transfer risk from one party to another, the latter insuring the former. We test this prediction and explore the mechanism behind it in the context of contract farming, the economic institution wherein a processor contracts the production of a commodity to a grower. Specifically, we
Bellemare, Marc F +2 more
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, 2020
The phenomenon of adverse selection caused by asymmetric information dominates the insurance market. In this paper, based on principal‐agent theory, we establish a two‐period dynamic insurance contract model with a low compensation period.
Ben-jiang Ma +3 more
semanticscholar +1 more source
The phenomenon of adverse selection caused by asymmetric information dominates the insurance market. In this paper, based on principal‐agent theory, we establish a two‐period dynamic insurance contract model with a low compensation period.
Ben-jiang Ma +3 more
semanticscholar +1 more source
Multi-period insurance contracts
International Journal of Industrial Organization, 1987This paper examines the form of insurance contracts in the presence of asymmetric information about consumers’ accident probabilities. Our goal is to understand the adjustment in contract terms as a function of accident histories in a finite horizon model. We also compare these adjustments between alternative market structures.
Russell Cooper, Beth Hayes
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Insurance contracts portfolios with heterogenous insured ages
Insurance: Mathematics and Economics, 2004zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Dahan, Merav +2 more
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Blockchain and contract theory: modeling smart contracts using insurance markets
Managerial Finance, 2019Purpose The purpose of this paper is to model blockchain-based smart contracts specifically for the insurance industry. The authors introduce the concept of smart contracts and further discuss the implementation of a decentralized insurance marketplace,
A. Sheth, H. Subramanian
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NEO Smart Contract for Drought-Based Insurance
Canadian Conference on Electrical and Computer Engineering, 2019Agriculture insurance has developed across emerging economies in South East Asia (SEA). New products are introduced to farmers to lessen financial losses of crops with low commercialised. Drought-based crop insurance has launched in some SEA countries to
Nguyen Tq, D. Ak, T. Lt
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Do you Trust your Insurer? Ambiguity about Contract Nonperformance and Optimal Insurance Demand
Journal of Economic Behavior and Organization, 2018We study optimal insurance demand for a risk- and ambiguity-averse consumer under ambiguity about contract nonperformance. Ambiguity aversion lowers optimal insurance demand and the consumer’s degree of ambiguity aversion is negatively associated with ...
R. Peter, Jie Ying
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Smart Contract-Based Car Insurance Policies
2018 IEEE Globecom Workshops (GC Wkshps), 2018Processes in the insurance economy are often cumbersome and expensive because of the inherently opposing interests of insurers and customers. Smart contracts bear a large potential to simplify these processes and thereby reduce costs.
L. Bader +3 more
semanticscholar +1 more source
YOUR MALPRACTICE INSURANCE CONTRACT
Journal of the American Medical Association, 1958Professional liability insurance contracts are not all the same. Individual contracts must be studied for possible gaps in coverage. The limitations and exclusions they contain are not a criticism of the insurance industry, for they determine whether an insurance company can stay in business.
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