Abstract
This paper examines the implications of the commission system for the price of life assurance products and the quality of advice provided by brokers. The competitive equilibrium is shown to be neither first best nor second best efficient. The sources of the inefficiencies are examined and the effects of policy measures considered.
Original language | Undefined/Unknown |
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Pages (from-to) | 31-53 |
Number of pages | 23 |
Journal | GENEVA PAPERS ON RISK AND INSURANCE THEORY |
Volume | 18 |
Issue number | 1 |
Publication status | Published - 1993 |
Keywords
- Insurance Insurance Companies (G220)