Pojęcie równowagi na konkurencyjnym rynku ubezpieczeń
The concept of equilibrium in the competitive insurance market

Author(s): Łukasz Kuryłowicz, Adam Śliwiński
Subject(s): Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Marketing / Advertising, Business Ethics
Published by: Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu
Keywords: równowaga rynkowa;rynek ubezpieczeń;rynek konkurencyjny;
Summary/Abstract: The article shows the possibility of analyzing the insurance market by using the Rothschild–Stiglitz equilibrium model and its subsequent modifications. As an example the Polish market of compulsory third party liability insurance was used. The first part of the article describes this market, both in terms of its structure and the financial results of insurance companies operating in the group 10 of insurance. In the next part, the main focus is on describing the assumptions of the Rothschild–Stiglitz model both for the markets characterized by full common knowledge and those operating under the conditions of information asymmetry. In the last part, the authors used the Rothschild–Stiglitz model to simulate the market behavior after having introduced a new type of insurance contract which allowed access to information collected byon-board ADR recorders. The simulation showed that, in accordance with the model, the use of new technologies can bring the market closer to the state of equilibrium.

• Details
• Contents