Monday, September 19th

Geneva Risk Economics Lecture

Louis Eeckhoudt

"Beyond Risk Aversion: Why, How and What's Next?"

Discussant: H. Schlesinger

Session
HIGHER ORDER ATTITUDES TO RISK
(Chair: H. Schlesinger)

C. Gollier , F. Cherbonnier
"Decreasing Risk Aversion and Prudence under Ambiguity Aversion" (Discussant: D. Clarke)

D. Crainich , L. Eeckhoudt
"Three Measures of the Intensity of Temperance" (Discussant: H. Chiu)

Session
EMPIRICAL AND EXPERIMENTAL MEASURES OF RISK AVERSION (Chair: P. Zweifel)

F.Schroyen, K. Aarbu
"Mapping Risk Aversion in Norway Using Hypothetical Income Gambles" (Discussant: P. Zweifel)

C. Heinzel, A. Bostian
"Prudential Saving: Evidence from a Laboratory Experiment" (Discussant: M. Rüger)

Session
BACKGROUND RISKS (Chair: H. Chiu)


H. Schlesinger, G. Franke, R. Stapleton
"Risk-Taking-Neutral Background Risks" (Discussant: F. Barigozzi )

H. Chiu
"Optimal Portfolio and Insurance Choice in the Presence of Uninsurable Background Risk: A General Two-Parameter Approach" (Discussant: G. Dionne)

Session
CAPITAL MARKET BEHAVIOUR OF INSURERS, BANKS AND PENSION FUNDS (Chair: D. Cummins)

J. Gorter
"Investment Risk Taking by Institutional Investors" (Discussant: D. Radulescu)

D. Cummins, R. Wei, X. Xie
"Financial Sector Integration and Information Spillovers: Effects of Operational Risk Events on U.S. Banks and Insurers" (Discussant: J. Gorter)

Session
EMPIRICAL ANALYSIS OF ASYMETRIC INFORMATION
(Chair: J. Garven)

M. Spindler, S. Hagmayer, J. Winter
"Asymmetric Information in the Automobile Insurance Revisited" (Discussant: C.-S. Li)

J. Garven, M. Grace
"Adverse Selection in Reinsurance Markets" (Discussant: M. Altuntas)

Tuesday, September 20th

Session
THEORY AND EXPERIMENTAL EVIDENCE ON DOWNSIDE RISK AVERSION (Chair: A. Snow)


M. Rüger, J. Maier
"Experimental Evidence on Higher Order Risk Preferences with Real Monetary Losses" (Discussant: C. Gollier)

A. Snow, D. Keenan
"The Schwarzian Derivative as a Ranking of Downside Risk Aversion" (Discussant: J. Pinquet)

Session
EQUILIBRIUM INSURANCE CONTRACTS
(Chair: A. Wambach)

C. Laux, N. Doherty, A. Mürmann
"Insuring Non-Verifiable Losses and the Role of Intermediaries" (Discussant: S. Spaeter)

W. Mimra, J. Wambach
"Profitable Contracts in Competitive Insurance Markets with Adverse Selection" (Discussant: P. Picard)

Session
LONG TERM CARE, MORBIDITY AND MORTALITY RISK (Chair: J. Hammit)

C. Courbage, L. Eeckhoudt
"On Insuring and Caring for Parents` Longterm Care Needs" (Discussant: M. Gullien)

H. Wesker, N. Gatzert
"Mortality Risk and its Effect on Shortfall and Risk Management in Life Insurance" (Discussant: M. Sherris)

J. Hammitt, K. Haninger
"Valuing Morbidity Risk: Willingness to Pay per Quality-Adjusted Life Year" (Discussant: R. Huang)

Session
EMPIRICAL INSURANCE MARKETS
(Chair: R. Rees)

M. Altuntas, T. Berry-Stölzle and R. Hoyt
"Dynamic Determinants of Enterprise Risk Management Adoption in the Property-Liability Insurance Industry: Evidence from Germany" (Discussant: D. Cummins)

M. Boyer, L. Stern
"Is Corporate Governance Risk Valued? Evidence from Directors` and Officers` Insurance" (Discussant: R. Rees)

D. Radulescu, P. Egger, R. Rees
"Corporate Governance and Managerial Incentives: Evidence from the Market for D&O Insurance" (Discussant: S. Vanduffel)

Wednesday, September 21th

Session
RISK FINANCING (Chair: P. Picard)

H. Loubergé, P. Barrieu
"Reinsurance and Securitisation in Insurance Risk Management" (Discussant: J. Hammit)

P. Picard, J. Pinquet
"Optimal Risk Financing in Large Corporations through Insurance Captives" (Discussant: C. Bernard)

Session
THEORY TOPICS 1 (Chair: J. Etner)

F. Barigozzi, R. Bourlès, D. Henriet and G. Pignataro
"Risk-Sharing with Self-Insurance: The Role of Cooperation"(Discussant: W. Mimra)

M. Jeleva, J. Etner
"Underestimation of Probabilities Modifications: Characterisation and Economic Implications" (Discussant: F. Schoyen)

Session
THEORY TOPICS 2 (Chair: C. Courbage)

O. van Häfen, K. Christiansen and M. Nell
"Limited Liability and Rational Over-Insurance: An Analysis of Dependence Structures" (Discussant: C. Laux)

L. Ju, Z. Tu
"Buffering" Effect of Insurance Intermediaries: Does the Use of Contingent Commissions Dampen the Insurance Underwriting Cycle?" (Discussant: M. Boyer)