Summary |
The present study suggests some of the reasons for the comparative neglect of the economics of insurance, and offers an analysis of the generic concept of insurance which is appropriate for investigation by the techniques of contemporary economic theory. By means of an interdisciplinary analysis, the insurance device is isolated from its institutional setting and the role which it plays in various branches of economic theory is examined. The author has not attempted to formulate a “new” economic theory of insurance but, rather, to reconstruct the foundations upon which such theories must be built.
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