EXISTENCE AND UNIQUENESS OF EQUILIBRIUM IN A REINSURANCE SYNDICATE

被引：5

作者：

Aase, Knut K. ^{[1
,2
]}

机构：

[1] Norwegian Sch Econ & Business Adm, N-5045 Bergen, Norway

[2] Univ Oslo, CMA, N-0316 Oslo, Norway

来源：

ASTIN BULLETIN | 2010年 / 40卷 / 02期

关键词：

Existence of equilibrium; uniqueness of equilibrium; Pareto optimality; reinsurance model; syndicate theory; risk tolerance; exchange economy; probability distributions; Walras' law;

D O I：

10.2143/AST.40.2.2061125

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper we consider a reinsurance syndicate, assuming that Pareto optimal allocations exist. Under a continuity assumption on preferences, we show that a competitive equilibrium exists and is unique. Our conditions allow for risks that are not bounded, and we show that the most standard models satisfy our set of sufficient conditions, which are thus not restrictive. Our approach is to transform the analysis from an infinite dimensional to a finite dimensional setting.

引用

页码：491 / 517

页数：27

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