Price Liberalization and Market Power in Insurance

Barros, Pedro Pita

http://hdl.handle.net/10362/85984

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Autores

Barros, Pedro Pita

Resumo(s)

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.

URI

http://hdl.handle.net/10362/85984

Citação

Barros, Pedro P., Price Liberalization and Market Power in Insurance (October, 1993). FEUNL Working Paper Series No. 212

Editora

Nova SBE

Coleções

NSBE - Working Paper Series

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