Matches in SemOpenAlex for { <https://semopenalex.org/work/W3125995798> ?p ?o ?g. }
Showing items 1 to 73 of
73
with 100 items per page.
- W3125995798 endingPage "349" @default.
- W3125995798 startingPage "323" @default.
- W3125995798 abstract "Abstract A model is developed for determining the price of general insurance policies in a competitive, noncooperative market. This model extends previous single-optimizer pricing models by supposing that each participant chooses an optimal pricing strategy. Specifically, prices are determined by finding a Nash equilibrium of an N-player differential game. In the game, a demand law describes the relationship between policy sales and premium, and each insurer aims to maximize its (expected) utility of wealth at the end of the planning horizon. Two features of the model are investigated in detail: the effect of limited total demand for policies, and the uncertainty in the calculation of the breakeven (or cost price) of an insurance policy. It is found that if the demand for policies is unlimited, then the equilibrium pricing strategy is identical for all insurers, and it can be found analytically for particular model parameterizations. However, if the demand for policies is limited, then, for entrants to a new line of business, there are additional asymmetric Nash equilibria with insurers alternating between maximal and minimal selling. Consequently it is proposed that the actuarial cycle is a result of price competition, limited demand, and entry of new insurers into the market. If the breakeven premium is highly volatile, then the symmetric equilibrium premium loading tends to a constant, and it is suggested that this will dampen the oscillatory pricing of new entrants." @default.
- W3125995798 created "2021-02-01" @default.
- W3125995798 creator A5077092627 @default.
- W3125995798 date "2012-07-01" @default.
- W3125995798 modified "2023-09-24" @default.
- W3125995798 title "Equilibrium Pricing of General Insurance Policies" @default.
- W3125995798 cites W1659904137 @default.
- W3125995798 cites W1989954001 @default.
- W3125995798 cites W1992586972 @default.
- W3125995798 cites W1997328006 @default.
- W3125995798 cites W2003342838 @default.
- W3125995798 cites W2003455053 @default.
- W3125995798 cites W2019770226 @default.
- W3125995798 cites W2023190092 @default.
- W3125995798 cites W2040171781 @default.
- W3125995798 cites W2052750388 @default.
- W3125995798 cites W2109254564 @default.
- W3125995798 cites W2114982183 @default.
- W3125995798 cites W2117201967 @default.
- W3125995798 cites W2165120596 @default.
- W3125995798 cites W2742470390 @default.
- W3125995798 cites W3121218430 @default.
- W3125995798 cites W3123347787 @default.
- W3125995798 cites W3123999117 @default.
- W3125995798 cites W4232149037 @default.
- W3125995798 cites W4253543067 @default.
- W3125995798 doi "https://doi.org/10.1080/10920277.2012.10590645" @default.
- W3125995798 hasPublicationYear "2012" @default.
- W3125995798 type Work @default.
- W3125995798 sameAs 3125995798 @default.
- W3125995798 citedByCount "10" @default.
- W3125995798 countsByYear W31259957982016 @default.
- W3125995798 countsByYear W31259957982018 @default.
- W3125995798 countsByYear W31259957982019 @default.
- W3125995798 countsByYear W31259957982020 @default.
- W3125995798 countsByYear W31259957982021 @default.
- W3125995798 crossrefType "journal-article" @default.
- W3125995798 hasAuthorship W3125995798A5077092627 @default.
- W3125995798 hasConcept C10138342 @default.
- W3125995798 hasConcept C162324750 @default.
- W3125995798 hasConcept C16520705 @default.
- W3125995798 hasConcept C175444787 @default.
- W3125995798 hasConcept C180456769 @default.
- W3125995798 hasConcept C28761237 @default.
- W3125995798 hasConcept C46814582 @default.
- W3125995798 hasConceptScore W3125995798C10138342 @default.
- W3125995798 hasConceptScore W3125995798C162324750 @default.
- W3125995798 hasConceptScore W3125995798C16520705 @default.
- W3125995798 hasConceptScore W3125995798C175444787 @default.
- W3125995798 hasConceptScore W3125995798C180456769 @default.
- W3125995798 hasConceptScore W3125995798C28761237 @default.
- W3125995798 hasConceptScore W3125995798C46814582 @default.
- W3125995798 hasIssue "3" @default.
- W3125995798 hasLocation W31259957981 @default.
- W3125995798 hasOpenAccess W3125995798 @default.
- W3125995798 hasPrimaryLocation W31259957981 @default.
- W3125995798 hasRelatedWork W122290853 @default.
- W3125995798 hasRelatedWork W1588682871 @default.
- W3125995798 hasRelatedWork W1908651364 @default.
- W3125995798 hasRelatedWork W1967103436 @default.
- W3125995798 hasRelatedWork W2546485608 @default.
- W3125995798 hasRelatedWork W2912266116 @default.
- W3125995798 hasRelatedWork W2954944202 @default.
- W3125995798 hasRelatedWork W3127936776 @default.
- W3125995798 hasRelatedWork W3149564185 @default.
- W3125995798 hasRelatedWork W4312220496 @default.
- W3125995798 hasVolume "16" @default.
- W3125995798 isParatext "false" @default.
- W3125995798 isRetracted "false" @default.
- W3125995798 magId "3125995798" @default.
- W3125995798 workType "article" @default.