More on insurance as a Giffen good

Briys, Éric; Dionne, Georges; Eeckhoudt, Louis

doi:10.1007/bf00356865

Cited by 52 publications

(48 citation statements)

References 5 publications

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“…The well documented aspect of institutionalization of conventional insurance began at Edward's coffee shop in London, which marked the birth of Lloyds' underwriters (Schultz & Bardwell, 1959;Bickelhaupt, 1983) and at the same time, the first actuarial model of life assurance premium's calculation was established, for example, the Nigerian Road Traffic Act of 1945 (RTA) was adopted from its colonial RTA 1930's counterpart. For more kindly see Goovaerts and De Vylder, 1979;Briys et al, 1989;Albrecht, 1992;Briys and De Varenne, 2001;Luan, 2001;Froot, 2001;Rotar, 2007;Laeven and Goovaerts, 2007;and Conniffe, 2007. 761 was pronounced to be Islamically permissible by the council of higher scholars in Saudi Arabia without any prior feasibility study.…”

Section: Discussionmentioning

confidence: 99%

“…Excellent academic researchers, such as Arrow (1963Arrow ( , 1971Arrow ( , 1974, Raviv (1979), Bühlmann (1985), Briys, Dionne, and Eeckhoudt (1989), Rejda (1989), Green, Trieschmann, and Gustavson (1992), Luan (2001), Mahul (2002, 2004), Liu and Yang (2004), Laeven and Goovaerts (2008), Karni (2007), Zhou, W. Wu, and C. Wu (2010), Walhin and Paris (1999), Bernard, He, Yan, and Zhou (2012), have developed various models of rating based on various mathematical and statistical methods. Similarly, British government has invested regulations in the standardization of insurance business such as life assurance Gambling act of 1774 and marine insurance act of 1906 to mention some.…”

Section: Literature Reviewmentioning

confidence: 99%

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Charting a Course on the Islamic Finance Ocean: A Survey of Islamic Insurance Literatures

2014

CUBR

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The number of Muslim literates in Islamic finance and conventional finance, particularly Islamic insurance, has grown tremendously, so has the number of academic and professional articles, books, and other monographs published in Islamic insurance profession. Despite Islamic insurance uniqueness based on Islamic values and philosophies, its emancipation aimed to compete or eradicate the conventional insurance at both academic and professional levels. Those monographs that were intended to replace their conventional insurance counterpart have triggered endless debates among stakeholders on their authenticity and quality of knowledge and as well challenged their authors' authorities. Therefore, with content analysis, this survey verified whether the Islamic insurance literatures were capable of producing well-seasoned professionals of Islamic insurance. The results showed that the disputes over the available literatures might have contributed to the failure of having a standard curriculum for teaching Islamic insurance as a profession in academic at national and international levels. Review of the literatures and curriculum was recommended.

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Section: Discussionmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Charting a Course on the Islamic Finance Ocean: A Survey of Islamic Insurance Literatures

2014

CUBR

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“…However, if W À L þ q H ð Þ r 2 À Wr 1 > 0 and SE < IE, then A>0. 3 Hoy and Robson (1981) and Briys et al (1989) provide conditions for insurance to be a Giffen good.…”

Section: Insurance Demandmentioning

confidence: 99%

Tax Deductions for Losses and Equilibrium in Competitive Insurance Markets

Liu

Yang

2009

Atl Econ J

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“…Some scholars tried to dig into the idea by exploring the conditions under which insurance would be not only an inferior good, but also a Giffen good3: see Hoy and Robson (1981), and Briys, Dionne and Eeckhoudt (1989). But the interest remained limited.…”

Section: Optimal Insurance and Protectionmentioning

confidence: 99%

Risk and Insurance Economics 25 Years After

Loubergé

1998

Geneva Pap Risk Insur Issues Pract

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The paper is written on the occasion of the 25th anniversary of the International Association for the Study of Insurance Economics, known as "The Geneva Association". It reviews the evolution of insurance economics, by first recalling the situation in 1973, then presenting the developments and new approaches which flourished since then. The paper argues that these developments were only possible because steady advances were made in the economics of risk and uncertainty and in financial theory. Insurance economics has grown in importance to become a central theme in modern economics, providing not only practical examples to illustrate new theories, but also inspiring new ideas of relevance for the general economy.

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More on insurance as a Giffen good

Cited by 52 publications

References 5 publications

Charting a Course on the Islamic Finance Ocean: A Survey of Islamic Insurance Literatures

Charting a Course on the Islamic Finance Ocean: A Survey of Islamic Insurance Literatures

Tax Deductions for Losses and Equilibrium in Competitive Insurance Markets

Risk and Insurance Economics 25 Years After

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