Institut für Risikomanagement und Versicherung
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Insurance Economics

Dr. Johannes Jaspersen; 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.

Organizational Issues

General

  • This is a Master-level class. Basic knowledge of decision theory, finance, and economics is necessary.
  • No written application is required.
  • Please note that this lecture is open for Master of Science students (Betriebswirtschaftslehre, Wirtschaftsmathematik, Mathematik, Statistik)
  • Please find further information in the syllabus.

Main Objectives

  • 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.

Time and Location

  • Tuesday, 10 a.m. - 12 p.m. (c.t.) in Schellingstr. 3 - S006.
  • Thursday, 08 a.m. - 10 a.m. (c.t.) in Lehrturm W101.
  • Period: April 12th until June 30th, 2016.
  • Please find further information in the syllabus.

Examination

  • A two hour written exam will be held.
  • Date: 15.07.2016; 11:00 - 13:00
  • Room: Lehrturm W 201 (Names starting with A-K)
               HGB E004 (Names starting with L-Z)
  • 6 ECTS (Master; BWL PStO 2008 Module: Finance; BWL PStO 2015 Module: Finance III).
  • To take the exam, registration via LSF-Portal is necessary. Registration Period: 16.05. - 17.06.2016
  • Retake-Exam:
    The retake-exam will take place from 11:00 to 13:00 on February 6th, 2017 in Lehrturm W101. To participate, students must register for the exam on LSF within the registration period from December 12th, 2016 to January 11th, 2017! Negative consequences for no registration can be found here.
  • Students that cannot register via this portal need to send an e-mail to Corinna Rupp.