Insurance Economics (Classroom Companion: Economics)

Book Details:

• Publisher: Springer

• Author: David L. Eckles

• Language: English

• Edition: 2nd Edition (2021)

• ISBN: 9783030803896

• Pages: 531

• Cover: Hardcover

• Dimensions: 9.4 x 6.5 x 1.3 inches

About the Book:

Insurance Economics by David L. Eckles offers a comprehensive exploration of the economic aspects of insurance, examining decision-making under risk, risk management, and the demand for insurance across both individual and corporate levels. This book serves as a critical resource for understanding the objectives pursued by insurance companies, the tools they use for management, and the regulatory environment surrounding the industry. It also explores the delicate balance between private and social insurance systems.

Designed for advanced undergraduate and graduate students in economics, management, and finance, this second edition incorporates the latest developments in risk theory and insurance research. It goes beyond theoretical discussions by relating predictions to empirical evidence, offering a rich and well-rounded perspective on the subject matter. Key issues explored include decision-making paradoxes under risk, moral hazard, adverse selection, and the potential "death spiral" in insurance markets.

This extensively revised edition introduces new content, including a fresh chapter on Insurance Demand II: Nontraditional Approaches, reflecting recent advancements in risk theory. The text also updates discussions on enterprise risk management, long-term care insurance, and issues like globalization and genetic information, which are reshaping both private and social insurance. To broaden its scope, the second edition integrates global perspectives, with research and evidence drawn from both the U.S. and China, providing a deeper, international context for readers.

This book is an essential resource for anyone seeking a robust understanding of insurance economics, offering both theoretical insights and practical applications relevant to the evolving landscape of global insurance markets.