Prof. Dr. Andreas Richter; Michael Hanselmann
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.
- This is a Master-level class. Basic knowledge of decision theory, finance, and economics is necessary.
- No written application is required.
- Blocked course in the second half of the semster: June 8th through July 3rd, 2015 (see schedule below).
- Please find further information in the syllabus.
- To obtain an overview of essential concepts in insurance economics.
- To understand the implications of asymmetric information for insurance contracting.
- To be able to explain and evaluate real-life insurance product design from an economic point of view.
|June 8th||10am - 2pm||Modules I & II||Lehrturm W 201|
|June 10th||2pm - 6pm||Problem sets 1 & 2||Lehrturm W 101|
|June 12th||10am - 2pm||Module II||Lehrturm W 101|
|June 15th||10am - 2pm||Module III||Lehrturm W 201|
|June 17th||2pm - 6pm||Problem sets 3 & 4||Lehrturm W 101|
|June 19th||10am - 2pm||Modules III & IV||Lehrturm W 101|
|June 22nd||10am - 2pm||Module IV & V||Lehrturm W 201|
|June 24th||2pm - 6pm||Problem sets 5 & 6||Lehrturm W 101|
|June 26th||10am - 2pm||Problem set 6 & Case Study Genetic Testing||Lehrturm W 101|
|June 29th||10am - 2pm||Problem sets 7 & 8||Lehrturm W 201|
|July 3rd||10am - 2pm||Module VI & Mock Exam||Lehrturm W 101|
- 2-hour written exam
- To take the exam, registration via the LSF-Portal is necessary. Students that cannot register via this portal need to send an e-mail to email@example.com
- 6 ECTS (MSc)
- Date: Friday, July 17th, 11 am – 1 pm
- Room: M 218, Hauptgebäude