Price Liberalization and Market Power in Insurance

Detalhes bibliográficos
Autor(a) principal: Barros, Pedro Pita
Data de Publicação: 1993
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/85984
Resumo: Insurance services have a prominent role In modern societies. Empirical evaluation of market interactions in insurance is, however, scarce. To fill this gap, two models are proposed. Each captures the main features of either regulated or deregulated markets. Three levels of decisions, reinsurance, capacity and prices, generate testable predictions on the exercise of market power. Recent evolution of the Portuguese market provides a natural experiment for application. Estimation before and after price deregulation reveals a dramatic change in behavior. Coordination has characterized the interaction under price regulation. After deregulation, in contrast, competition between firms has been fierce.
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spelling Price Liberalization and Market Power in InsuranceInsurance services have a prominent role In modern societies. Empirical evaluation of market interactions in insurance is, however, scarce. To fill this gap, two models are proposed. Each captures the main features of either regulated or deregulated markets. Three levels of decisions, reinsurance, capacity and prices, generate testable predictions on the exercise of market power. Recent evolution of the Portuguese market provides a natural experiment for application. Estimation before and after price deregulation reveals a dramatic change in behavior. Coordination has characterized the interaction under price regulation. After deregulation, in contrast, competition between firms has been fierce.Nova SBERUNBarros, Pedro Pita2019-10-31T12:42:02Z1993-101993-10-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10362/85984engBarros, Pedro P., Price Liberalization and Market Power in Insurance (October, 1993). FEUNL Working Paper Series No. 212info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:38:43Zoai:run.unl.pt:10362/85984Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:36:40.616202Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Price Liberalization and Market Power in Insurance
title Price Liberalization and Market Power in Insurance
spellingShingle Price Liberalization and Market Power in Insurance
Barros, Pedro Pita
title_short Price Liberalization and Market Power in Insurance
title_full Price Liberalization and Market Power in Insurance
title_fullStr Price Liberalization and Market Power in Insurance
title_full_unstemmed Price Liberalization and Market Power in Insurance
title_sort Price Liberalization and Market Power in Insurance
author Barros, Pedro Pita
author_facet Barros, Pedro Pita
author_role author
dc.contributor.none.fl_str_mv RUN
dc.contributor.author.fl_str_mv Barros, Pedro Pita
description Insurance services have a prominent role In modern societies. Empirical evaluation of market interactions in insurance is, however, scarce. To fill this gap, two models are proposed. Each captures the main features of either regulated or deregulated markets. Three levels of decisions, reinsurance, capacity and prices, generate testable predictions on the exercise of market power. Recent evolution of the Portuguese market provides a natural experiment for application. Estimation before and after price deregulation reveals a dramatic change in behavior. Coordination has characterized the interaction under price regulation. After deregulation, in contrast, competition between firms has been fierce.
publishDate 1993
dc.date.none.fl_str_mv 1993-10
1993-10-01T00:00:00Z
2019-10-31T12:42:02Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
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status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/85984
url http://hdl.handle.net/10362/85984
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Barros, Pedro P., Price Liberalization and Market Power in Insurance (October, 1993). FEUNL Working Paper Series No. 212
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instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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