Aim and content: The aim of the course is to provide an overview and a basic understanding of insurance economics. Special attention will be given to health insurance for three reasons: First, it needs to be modelled differently from e.g. property/liability insurance; second, it induces all three types of moral hazard, i.e. ex ante, ex post, and dynamic; and third, it is suspected to be subject to particularly marked adverse selection effects. The course aims at enabling participants to understand the peculiarities not only of the demand for insurance but also of insurance markets and their regulation. Topics covered: Demand for insurance with and without diversification possibilities; the supply of insurance; insurance markets and asymmetric information; and regulation of insurance markets.
Participants: PhD students. In case of vacant seats also other health researchers. Maximum 25 participants
Prerequisites: Intermediate microeconomics; basic econometrics helpful.