| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27189 |
| 来源ID | Working Paper 27189 |
| Trust and Insurance Contracts | |
| Nicola Gennaioli; Rafael La Porta; Florencio Lopez-de-Silanes; Andrei Shleifer | |
| 发表日期 | 2020-05-18 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We assemble and analyze a new data set of homeowner insurance claims from 28 independently operated country subsidiaries of a multinational insurance company. A fundamental feature of the data is that such claims are often disputed, and lead to rejections or lower payments. We propose a new model of insurance, in which consumers can make invalid claims and firms can deny valid claims. In this environment, trust and honesty are critical factors that shape insurance contracts and the payment of claims, especially when the disputed amounts are too small for courts. We characterize equilibrium insurance contracts, and show how they depend on the quality of the legal system and the level of trust. We then investigate the incidence of claims, disputes and rejections of claims, and payment of claims in our data, as well as the cost and pricing of insurance. The evidence is consistent with the centrality of trust for insurance markets, as predicted by the model. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Financial Institutions ; Industrial Organization ; Market Structure and Firm Performance ; Other ; Culture |
| URL | https://www.nber.org/papers/w27189 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584862 |
| 推荐引用方式 GB/T 7714 | Nicola Gennaioli,Rafael La Porta,Florencio Lopez-de-Silanes,et al. Trust and Insurance Contracts. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27189.pdf（693KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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