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- W4242084427 abstract "In distinction to the Borch’s model of a reinsurance market, this paper treats the problem of optimal risk exchange in an insurance market where treaties are allowed between the insurer and each insured only, not among insureds themselves. A characterization of the Pareto-optimal contract is found. It is shown that the indemnity function in the contract is of a coinsurance kind. We also present a way of finding Pareto-optimal contracts under individual rationality constraints. The obtained results are compared with those of the known model of risk exchange in a reinsurance market." @default.
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- W4242084427 date "2005-11-01" @default.
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- W4242084427 title "Pareto-optimal Contracts in an Insurance Market" @default.
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- W4242084427 doi "https://doi.org/10.2143/ast.35.2.2003458" @default.
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