EGRIE Awards



The Geneva Risk and Insurance Review is the official journal of EGRIE


33rd Seminar, Barcelona, 18-20 September 2006

18th Geneva Risk Economics lecture by Martin Weber on "Biased Probability Judgements - Relevance for Economics?"

Scientific Committee: François Salanié, Han Bleichrodt, Richard Stapleton

Local Organizer: Pilar Abad, Mercedes Ayuso, Montserrat Guillén

Monday, September 18th

09:00 - 09:15 Registration and Welcome Coffee
09:15 - 09:30 Welcome Speech
09:15 - 11:00

Geneva Risk Economics Lecture

Martin Weber

“Biased Probability Judgments - Relevance for Economics?"

(Discussant: F. Salanié)

11:00 - 11:15 Coffee Break
11:15 - 12:45

Risk and Insurance: Theory (Chair: A. Snow)

F. Gannon and V. Touze
"Insurance and optimal growth" (Discussant: S. Zuber)

C. Gollier and A. Muermann
"Optimal Choice and Beliefs with ex ante savoring and ex post disappointment" (Discussant: A. Snow)


Empirical Studies (Chair: M.Browne)

C. Courbage
"Prudence, savings and health care risks" (Discussant: D. Bardey)

R.J. Huang, L.Y. Tzeng, J. Wang and K.C. Wang
"Evidence for adverse selection in the automobile insurance market" (Discussant: M. Browne)


12:45 - 14:30 Lunch
14:30 - 16:00

Risk Preferences: Experiments (Chair: N. Drouhin)

E. Jouini, J.M. Marin, C. Napp and C. Robert
"Are risk averse agents more optimistic?" (Discussant: N. Treich)

J.K. Hammit, K. Haninger, N. Treich
"Effects of health and longevity on financial risk tolerance" (Discussant: N. Drouhin)


Empirical Finance (Chair: R. Stapleton)

O. Burkhardt
"Are there comovements in default risk of reinsurance companies?" (Discussant: L.Y. Zeng)

M.J. Browne, Yu-Len Ma and Ping Wang
"Executive Stock Options Compensation and Reserve Errors in the Property and Casualty Industry" (Discussant: R. Stapleton)


16:00 - 16:30 Coffee Break
16:30 - 18:30

Risk Preferences: Theory I (Chair: R. Kast)

L. Eeeckhoudt and H. Schlesinger
"On the utility premium of Friedman and Savage" (Discussant: A. Chassagnon)

D.C. Keenan, D.C. Rudow and A. Snow
"Risk preferences and changes in background risk" (Discussant: H. Schlesinger)

H. Zank
"Deriving rank-dependetn Utility trough probabilistic consistency" (Discussant: R. Kast)


Finance: Asset Pricing (Chair: O. Burkhardt)

S. A. Persson
"Debt allocation: to fix or float" (Discussant: O. Le Courtouis)

P. Lochte Jorgensen
"Traffic light options" (Discussant: O. Burkart)


21:00 Congress Dinner "Asador der Mar"

































Tuesday, September 19th

09:30 - 11:00

Industrial Organization I (Chair: D. Alary)

A. Hofmann
"Internalizing externalities of loss prevention through insurance monopoly: an analysis of interdependent risks " (Discussant: P. Picard)

J.M. Bourgeon, P. Picard and J. Pouyet
"Providers affiliation, insurance and collusion" (Discussant: D. Alary)

Risk Preferences: Theory II (Chair: H. Zank)

A. Bommier and S. Zuber
"Can preferences for catastrophe avoidance reconcile social discounting with intergenerational equity?" (Discussant: V. Touze)

N. Drouhin
"Uncertain lifetime, prospect theory and temporal consistency " (Discussant: H. Zank)


11:00 - 11:30 Coffee Break
11:30 - 12:30

Ernst Meyer Prize

Bidénam Kambia-Chopin
"Prevention of Risks, Insurance markets and Environmental Liability: Essays on Incentive Theory"

12:30 - 14:30 Lunch
14:30 - 16:15

Industrial Organization II (Chair: C. Fluet )

A. Attar and A. Chassagnon
"Price and non-price equilibria in an oligopolistic game with non-exclusivity" (Discussant: P. Olivella)

P. Olivella and F. Schroyen
"Multi-dimensional screening in insurance - with an application to gender discrimination" (Discussant: C. Fluet)


Empirical Studies (Chair: A. Muermann)

P. Eugster and P. Zweifel
Correlated Risks: a conflict of interest between insurers and consumers and its resolution" (Discussant: A. Hofmann)

R.J. Huang, L.Y. Tzeng and K.C. Wang
"Empirical evidence for advantageous selection in the insurance market" (Discussant: A. Muermann)


16:15 - 16:40 Coffee break
16:40 - 18:00 EGRIE Meeting
21:00 -

Gala Dinner






















Wednesday, September 20th

9:30 - 10:45

Asset Pricing II (Chair: P. Lochte Jorgensen)

C. Bernard, O. Le Courtouis and F. Quittard-Pinon
"Assessing the market value of safety loadings" (Discussant: N. Gatzert)

N. Gatzert and A. Kling
"Analysis of participating life insurance contracts: a unification approach" (Discussant: P. Lochte Jorgensen)


Health and Insurance (Chair: C. Courbage)

D. Bardey and R. Lesur
"Optimal regulation of health system with induced demand and ex post moral hazard" (Discussant: A. Lavigne)

D. Alary and F. Bien
"Optimal health insurance contract: can moral hazard increase indemnity " (Discussant: C. Courbage)


10:45 - 11:15 Coffee Break
11:15 - 12:45

Risk Preferences Theory III (Chair: F. Salanie)

G. Carlier and R.A. Dana
"Demand risk sharing and Equilibria for utilities additively separable into the quantiles"(Discussant: C. Gollier)

C. Gollier and B. Salanie
"Individual decision under risk, risk sharing and asset prices with regret"(Discussant: R.A. Dana)

Contract Design (Chair: R. Eisen)

C. Fluet and M.C. Fagart
"Liability insurance under the negligence rule" (Discussant: B. Kambia-Chopin)

M. Fall and A. Lavigne
"Multi-period health insurance contracts and Bayesian updating of beliefs" (Discussant: R. Eisen)

12:45 - 13:45 Farewell Lunch