1218 Risk Management and Insurance
Thomas Rauter, M.Sc.
  • LV-Typ
  • Semesterstunden
  • Unterrichtssprache
24.08.2016 bis 22.09.2016
Anmeldung über LPIS
Hinweise zur LV
Wochentag Datum Uhrzeit Raum
Mittwoch 14.12.2016 16:00 - 19:00 TC.5.04
Donnerstag 15.12.2016 16:00 - 19:00 TC.4.14
Freitag 16.12.2016 16:00 - 19:00 TC.3.07
Montag 19.12.2016 16:00 - 19:00 TC.3.09
Dienstag 20.12.2016 16:00 - 19:00 TC.3.09
Mittwoch 21.12.2016 16:00 - 19:00 TC.3.09
Montag 09.01.2017 16:00 - 19:00 TC.3.09
Dienstag 10.01.2017 13:00 - 16:00 TC.4.16

Inhalte der LV

This course is an introduction to risk and its management by individuals. We discuss how pooling of risk and insurance allow offloading of risk and reducing insolvencies. We then analyse how individuals make choices under uncertainty and their demand for insurance. Finally, we explore the impact of asymmetric information on insurance markets, under the themes of adverse selection and moral hazard. All these topics include discussions of recent developments in insurance markets and some advice for insurance purchase decisions.

Lernergebnisse (Learning Outcomes)

After completing this course the student will have the ability to:
• Use the concept of risk diversification
• Analyse the probability of default of insurance companies
• Apply normative frameworks to decisions under uncertainty
• Understand the impact of asymmetric information on insurance markets

Apart from that, the course will contribute to the students' ability to:
• Use analytical tools to solve economic problems
• Perform insurance decisions in real life
• Participate in group discussions


Lecture style, market game, problem sets and final exam

Leistung(en) für eine Beurteilung

The maximum number of points in the final exam is 300. Additionally, the eight students achieving the highest earnings in the market game (the top four students from the buyer's group and the top four students from the seller's group) will get 20 extra points. Class attendance and participation will also be taken into account for your final grade / "Note".

Teilnahmevoraussetzung(en) und Vergabe von Wartelistenplätzen

Basics in mathematics


1 Autor/in: Harrington, Niehaus
Titel: Risk Management and Insurance

Auflage: 2nd
Anmerkungen: only chapters 1, 3 - 5, 9 and 11 are relevant for the course
Jahr: 2004
Prüfungsstoff: Ja
Empfehlung: Referenzliteratur
Art: Buch
2 Autor/in: Eeckhoudt, Gollier, Schlesinger
Titel: Economic and Financial Decisions under Risk

Anmerkungen: only chapters 1 and 12 are relevant for the course
Jahr: 2005
Prüfungsstoff: Ja
Empfehlung: Referenzliteratur
Art: Buch

Erreichbarkeit des/der Vortragenden

Office hours by appointment

Detailinformationen zu einzelnen Lehrveranstaltungseinheiten

Einheit Datum Inhalte
1 tba Overview of Risk Management, Measures of Risk
2 tba The Impact of Risk Pooling on Variance, Central Limit Theorem, Probability of Insolvency of Insurance Companies
3 tba Expected Value Rule and Demand for Insurance, Expected Utility Rule
4 tba

Indifference Curves and Demand for Insurance

5 tba Risk Premium, What Insurance Should I Buy?, Empirical Anomalies and Psychological Factors
6 tba Market Game on Asymmetric Information, Adverse Selection in Insurance Markets
7 tba Moral Hazard in Insurance Markets
8 tba Final Exam
Zuletzt bearbeitet: 02.08.2016