Is the market classification of risk always efficient?: evidence from German third party motor insurance

Reimund Schwarze; Thomas Wein

Is the market classification of risk always efficient? evidence from German third party motor insurance

Publikation: Arbeits- oder Diskussionspapiere und Berichte › Arbeits- oder Diskussionspapiere

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Is the market classification of risk always efficient? evidence from German third party motor insurance. / Schwarze, Reimund; Wein, Thomas.
Lüneburg: Institut für Volkswirtschaftslehre der Universität Lüneburg, 2005. (Working paper series in economics; Nr. 3).

Publikation: Arbeits- oder Diskussionspapiere und Berichte › Arbeits- oder Diskussionspapiere

Harvard

Schwarze, R & Wein, T 2005 'Is the market classification of risk always efficient? evidence from German third party motor insurance' Working paper series in economics, Nr. 3, Institut für Volkswirtschaftslehre der Universität Lüneburg, Lüneburg.

APA

Schwarze, R., & Wein, T. (2005). Is the market classification of risk always efficient? evidence from German third party motor insurance. (Working paper series in economics; Nr. 3). Institut für Volkswirtschaftslehre der Universität Lüneburg.

Vancouver

Schwarze R, Wein T. Is the market classification of risk always efficient? evidence from German third party motor insurance. Lüneburg: Institut für Volkswirtschaftslehre der Universität Lüneburg. 2005 Mär 1. (Working paper series in economics; 3).

Bibtex

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title = "Is the market classification of risk always efficient?: evidence from German third party motor insurance",

abstract = "This paper studies the empirical effects of risk classification in the mandatory thirdparty motor insurance of Germany following the European Union{\textquoteright}s directive to deregulate insurance tariffs of 1994. We find evidence that inefficient risk categories had been selected while potentially efficient information was dismissed. Risk classification did generally not improve the efficiency of contracting or the composition of insureds in this market. These findings are partly explained by the continuing existence of institutional restraints in this market such as compulsory fixed coverage and unitary owner insurance. ",

keywords = "Economics, Kfz-Haftpflichversicherung, Risikodifferenzierung, Markteffizienz, Automobile Insurance, Risk Classification, Market Efficiency",

author = "Reimund Schwarze and Thomas Wein",

note = "Literaturverz. S. 27 - 29",

year = "2005",

month = mar,

day = "1",

language = "English",

series = "Working paper series in economics",

publisher = "Institut f{\"u}r Volkswirtschaftslehre der Universit{\"a}t L{\"u}neburg",

number = "3",

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institution = "Institut f{\"u}r Volkswirtschaftslehre der Universit{\"a}t L{\"u}neburg",

}

RIS

TY - UNPB

T1 - Is the market classification of risk always efficient?

T2 - evidence from German third party motor insurance

AU - Schwarze, Reimund

AU - Wein, Thomas

N1 - Literaturverz. S. 27 - 29

PY - 2005/3/1

Y1 - 2005/3/1

N2 - This paper studies the empirical effects of risk classification in the mandatory thirdparty motor insurance of Germany following the European Union’s directive to deregulate insurance tariffs of 1994. We find evidence that inefficient risk categories had been selected while potentially efficient information was dismissed. Risk classification did generally not improve the efficiency of contracting or the composition of insureds in this market. These findings are partly explained by the continuing existence of institutional restraints in this market such as compulsory fixed coverage and unitary owner insurance.

AB - This paper studies the empirical effects of risk classification in the mandatory thirdparty motor insurance of Germany following the European Union’s directive to deregulate insurance tariffs of 1994. We find evidence that inefficient risk categories had been selected while potentially efficient information was dismissed. Risk classification did generally not improve the efficiency of contracting or the composition of insureds in this market. These findings are partly explained by the continuing existence of institutional restraints in this market such as compulsory fixed coverage and unitary owner insurance.

KW - Economics

KW - Kfz-Haftpflichversicherung

KW - Risikodifferenzierung

KW - Markteffizienz

KW - Automobile Insurance

KW - Risk Classification

KW - Market Efficiency

M3 - Working papers

T3 - Working paper series in economics

BT - Is the market classification of risk always efficient?

PB - Institut für Volkswirtschaftslehre der Universität Lüneburg

CY - Lüneburg

ER -

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