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The theory of insurance is presented in this book, discussed from the viewpoint of the theory of economics of uncertainty. The principle of premium calculation which the book uses is based on economic equilibrium theory and differs from many of the premium systems discussed by actuaries.
Reinsurance is developed in the framework of general economic equilibrium theory under uncertainty. Here ordering of risks, preferences and utility theory play an important role. The book discusses the markets for insurance and divides them into three classes: (i) life insurance (ii) business insurance and (iii) household insurance, and these classes are each treated extensively in three separate chapters. Finally uninsurable risks are presented under "asymmetric information". Here moral hazard and adverse selection are treated and illustrations are given, some based on game theory.
"synopsis" may belong to another edition of this title.
So the book is much more than a memorial to a famous scholar. It is an advanced textbook, indeed, that gives a vivid testimony of how insurance, as a field of scientific endeavour, can and should be developed from the economic point of view...
Journal of Economics
... the book is illuminated by Borch's considerable experience and knowledge of insurance and any student interested in insurance markets would learn much by working their way through the models.
The Economic Journal
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Book Description Elsevier Science Ltd, 1990. Hardcover. Condition: Bon. Ancien livre de bibliothèque. Salissures sur la tranche. Edition 1990. Ammareal reverse jusqu'à 15% du prix net de ce livre à des organisations caritatives. ENGLISH DESCRIPTION Book Condition: Used, Good. Former library book. Soiling on the side. Edition 1990. Ammareal gives back up to 15% of this book's net price to charity organizations. Seller Inventory # B-075-043
Book Description North Holland, 1989. Condition: Good. 1st repr. 1991. Former Library book. Shows some signs of wear, and may have some markings on the inside. Seller Inventory # GRP69946835
Book Description North Holland, 1989. Hardcover. Condition: Used: Good. 1st repr. 1991. Seller Inventory # SONG0444873449
Book Description North Holland, 1989. Condition: Good. A+ Customer service! Satisfaction Guaranteed! Book is in Used-Good condition. Pages and cover are clean and intact. Used items may not include supplementary materials such as CDs or access codes. May show signs of minor shelf wear and contain limited notes and highlighting. Seller Inventory # 0444873449-2-4