The Economics of Risk and Insurance

• 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

S. Hun Seog is Professor of Finance and Insurance at the Graduate School of Business, Seoul National University. He received his PhD in Risk and Insurance from the Wharton School. His research areas include the economics of risk and insurance, corporate finance, and their applications. His academic papers have been published in Journal of Risk and Insurance, Geneva Papers on Risk and Insurance Theory, Asia-Pacific Journal of Risk and Insurance, International Economic Review, Marketing Science, and European Journal of Operational Research.