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Adverse Selection With Frequency And Severity Risk: Alternative Risk-sharing Provisions

机译:具有频率和严重性风险的不良选择:替代性风险分担规定

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摘要

The analysis considers an insurance market with adverse selection where individuals' loss distributions may differ with respect to both the frequency and severity of loss. We show that the combination of deductibles and coinsurance can be used to sort rationed policyholders. Because of their screening properties, coinsurance and deductibles may both be equilibrium forms of risk sharing for a particular insurer facing asymmetric information, with different rationed consumers choosing different risk-sharing provisions.
机译:该分析考虑了一个具有逆向选择的保险市场,在该市场中,个人的损失分布可能在损失的频率和严重性方面有所不同。我们证明,免赔额和共同保险的组合可用于对定量的保单持有人进行分类。由于共同保险和自付额的筛选特性,对于面对不对称信息的特定保险公司而言,共同保险和自付额可能都是风险分担的均衡形式,不同的定量消费者选择了不同的风险分担条款。

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