Research Handbook on the Economics of Insurance Law

Edited by Daniel Schwarcz, Professor, University of Minnesota Law School and Peter Siegelman, Professor, University of Connecticut Law School, US

• Contents:IntroductionDaniel Schwarcz and Peter SiegelmanPART I WHY AND HOW DO INDIVIDUALS PURCHASE INSURANCE?1. Behavioral Economics and Insurance: Principles and Solutions Howard C. Kunreuther and Mark V. Pauly2. Insurance Agents in the 21st Century: The Problem of Biased AdviceDaniel Schwarcz and Peter Siegelman3. Moral and Other Hazards of Economic Analysis of Health InsuranceJohn A. Nyman4. Does The Theory of Insurance Support Awarding Pain and Suffering Damages in Torts?Ronen AvrahamPART II THE ROLE OF THE STATE IN INSURANCE MARKETS5. “Social Insurance,” Risk Spreading, and RedistributionJames Kwak6. Catastrophe Insurance Dwight Jaffee7. US Healthcare ReformScott E. HarringtonPART III INSURANCE REGULATION8. Insurance Solvency Regulation: A New World Order?Elizabeth F. Brown and Robert W. Klein 9. Classification Risk and its RegulationKenneth S. Abraham and Pierre-André Chiappori10. Economics of State versus Federal RegulationMartin F. Grace PART IV COURTS AND INSURANCE11. Mandatory Rules and Default Rules in Insurance ContractsTom Baker and Kyle D. Logue12. The Law and Economics of Insurance Bad Faith LiabilityDaniel Asmat and Sharon Tennyson13. Basic Economics of the Defense of Covered Claims Charles Silver14. The Artificial Collective-Action Problem in Lawsuits Against Insured DefendentsRichard Squire15. The Law and Economics of Liability Insurance: A Theoretical and Empirical Review Tom Baker and Peter SiegelmanIndex

'The Research Handbook is a tremendously useful resource for both experienced insurance and insurance law scholars as well as newcomers to either field. The articles cover the most pressing questions in both disciplines in a succinct, accessible manner, without over-simplifying the inquiry. Economics, cognitive science, regulatory theory, and legal analysis are all brought to bear to illuminate the field. The Handbook is particularly successful in its avowed mission of working to bridge the persistent gap between scholarship regarding insurance theory and operations and scholarship addressing legal issues surrounding insurance.'