The Economics of Risk and Insurance

"Seog’s book provides a nice primer on the theoretical portion of insurance economics while linking to the empirical studies in the field. Its solid list of reference for further reading for each topic will help students as they move through their course of study and develop their own research stream. A great reference for any doctoral student in the area."
—Kathleen A. McCullough, Florida State University

"The more I read this book, the more I like it. It provides theoretical analyses for a complete set of insurance topics, and is easy to read even though the concepts are complex. Every insurance Ph.D. student needs to read this book."
—Gene C. Lai, Washington State University

S. Hun Seog (Author)

9781405185523, Wiley

Hardback, published 19 February 2010

352 pages
22.6 x 15.9 x 3 cm, 0.658 kg

Written for advanced undergraduate and master’s level courses, this book builds from a base of asymmetric information issues to discuss a wide array of topics and is illustrated with some timely examples.

• Covers diverse issues such as risk aversion, expected utility, and moral hazard within the pure theory of insurance
• Provides a clear exposition of the necessary mathematics, a feature which cannot be found in readers on the topic
• Utilizes an undergraduate economics major level of math
• Uses the simplest economic models possible to keep the text intuitive
• Introduces more mathematically complex techniques such as basic optimization for students wishing to 'go further' in their analysis

0. Introduction.

Part I: Fundamentals of Insurance.

Subject Areas: Economics [KC]