Readings in Insurance Economics

INSTITUT FÜR RISIKOMANAGEMENT UND VERSICHERUNG
INSTITUTE FOR RISK MANAGEMENT AND INSURANCE
Lecture
Readings in Insurance Economics
Lecturers
Chair or Institute
Institute for Risk Management and Insurance
Lecturer:
Prof. Mark Browne, Ph.D. (St. John’s University)
Contact:
Dipl.-Math. Verena Jäger (e-mail: [email protected])
Time & Location:
The course will be blocked from July 8th to July 24th, 2014 (A detailed
course outline is provided below).
Class location: Schackstr. 4/III, room 307 (Seminarraum)
Credits:
MBR course (B/I module), counts as 2 contact hours. Grades will be based
on class participation and a paper presentation.
Course Description
The course familiarizes doctoral students with scholarly research in the field of risk management
and insurance. In order to attend and successfully pass the course a profound prior knowledge of
risk management and insurance related topics and literature is required.
The course involves reading research papers that have been published in the field of risk
management and insurance, as well as several working papers that are currently being reviewed
for possible publication. Students are required to carefully read the studies contained in the
syllabus and be prepared to discuss them in depth. Each session each student will be responsible
for leading discussion on a topic. In order to effectively lead discussion and share information,
discussion leaders are encouraged to prepare overheads and handouts. The research paper
readings will be available on the course web page in advance.
LEITUNG
Professor Dr. Andreas Richter
INTERNET
http://www.inriver.bwl.uni-muenchen.de
BÜRO
Schackstraße 4 / III. OG
ERREICHBAR MIT
U3/U6 Universität
-2-
Assignement/Grades
Grades will be based on class participation and a paper presentation. Topics will be assigned
prior to the beginning of class.
Course Outline
Date
July 8
Time
10:30am-noon
July 10
July 15
10:30am-noon
10:30am-noon
July 17
July 22
July 24
10:30am-noon
10:30am-noon
10:30am-noon
Topic
[CAMS]: Does National Flood Insurance Program Participation Induce
Housing Development?
Health Insurance
[CAMS]: Prohibitions on Health Insurance Underwriting: A Means of
Making Health Insurance Available or a Cause of Market Failure?
Discrimination, Underwriting and Claims
Reserve Error Manipulation
[CAMS]: The Impact of Life Changing Events and the 2008 Financial
Crisis
Required Readings
July 8: CAMS
Does National Flood Insurance Program Participation Induce Housing Development?
July 10: Health Insurance
Brown, J.R., and A. Finkelstein, 2008, The Interaction of Public and Private Insurance: Medicaid
and the Long-Term Care Insurance Market, American Economic Review, 98(3): 1083-1102.
Manning, W.G., Newhouse, J.P., Duan, N. Keeler, E.B., Leibowitz, A., and M.S. Marquis, 1987,
Health Insurance and the Demand for Medical Care: Evidence from a Randomized Experiment,
American Economic Review, 77(3): 251-277.
Cutler, D.M., and J. Gruber, 1996, Does Public Insurance Crowd Out Private Insurance? Quarterly
Journal of Econcomics, 111(2): 391-430.
July 15: CAMS and Adverse Selection
Browne, M.J., 1992, Evidence of Adverse Selection in the Individual Health Insurance Market,
Journal of Risk and Insurance, 59(1): 13-33.
Puelz, R., and A. Snow, 1994, Evidence on Adverse Selection: Equilibrium Signaling and CrossSubsidization in the Insurance Market, Journal of Political Economy, 102(2): 236-257.
LEITUNG
Professor Dr. Andreas Richter
INTERNET
http://www.inriver.bwl.uni-muenchen.de
BÜRO
Schackstraße 4 / III. OG
ERREICHBAR MIT
U3/U6 Universität
-3-
July 17: Discrimination, Underwriting and Claims
Halek, M., and J.G. Eisenhauer, 2001, Demography of Risk Aversion, Journal of Risk and
Insurance, 68(1): 1-24.
Brown, J.R., and A. Goolsbee, 2002, Does the Internet Make Markets More Competitive?
Evidence from the Life Insurance Industry, Journal of Political Economy, 110(3): 481-507.
Doerpinghaus, H.I., Schmit, J.T., and J.H. Yeh, 2008, Age and Gender Effects on Auto Liability
Insurance Payouts, Journal of Risk and Insurance, 75(3): 527-550.
July 22: Reserve Error Manipulation
Petroni, K.R., 1992, Optimistic Reporting in the Property-Casualty Insurance Industry, Journal of
Accounting and Economics, 15(4): 485-508.
Gaver, J.J., and J.S. Paterson, 2001, The Association between External Monitoring and Earnings
Management in the Property-Casualty Insurance Industry, Journal of Accounting Research, 39(2):
269-282.
Eckles, D.L., and M. Halek, 2010, Insurer Reserve Error and Executive Compensation, Journal of
Risk and Insurance, 77(2): 329-346.
July 24: CAMS
Mark Browne, Verena Jaeger and Petra Steinorth, 2014, Variable Individual Risk Preferences –
The Impact of Life Changing Events and the 2008 Financial Crisis.
LEITUNG
Professor Dr. Andreas Richter
INTERNET
http://www.inriver.bwl.uni-muenchen.de
BÜRO
Schackstraße 4 / III. OG
ERREICHBAR MIT
U3/U6 Universität