Institut für Risikomanagement und Versicherung
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Insurance Economics

This course deals with core concepts of the theory of insurance demand. After a review of essentials of decision theory the optimal design of insurance products is addressed from an information economics point of view. Optimal risk sharing in a complete information setting is discussed as the benchmark case. The main emphasis is placed on principal agent problems due to superior knowledge of the insured. In particular the class covers adverse selection, moral hazard and insurance fraud which heavily affect almost any real-life insurance market. Implications for product design as well as the interaction between insurance and other markets are analyzed.

The slides for the first lecture are accessible without password. The password for all other course material will be announced in the first lecture.

LECTURE

Lecturer: Prof. Dr. Andreas Richter
Date(s)/Room(s): The date and room vary. Please check the syllabus for the exact dates.
Begin: 14.06.2010
End: 02.07.2010

TUTORIAL

Lecturer: Petra Steinorth
Date(s)/Room(s): The date and room vary. Please check the syllabus for the exact dates.
Begin: 18.06.2010
End: 28.06.2010

EXAM

Credits: 6 ECTS (Master Course)

4 LP (Diploma)

Time: 120 min
Date/Room: The written exam will be held on July 22, 2010, 6-8 pm, main building room A140.