Journal article
An Examination of Cost Economies in the United States Life Insurance Industry
The Journal of risk and insurance, Vol.59(1), pp.72-103
03/01/1992
DOI: 10.2307/253217
Abstract
Using an industry sample of 423 U.S. life insurers, this study reports estimates of overall and product specific scale economies, as well as, pair-wise cost complementarities for a wide variety of products. Estimates of these cost characteristics are provided for numerous output vectors since theory suggests that the magnitude of scale economies and cost complementarities may vary with the scale and mix of outputs. In contrast, previous studies only provide a single point estimate of industry cost characteristics using the sample mean output vector. This study, therefore, provides a more complete representation of the industry's cost characteristic and, in turn, new insights into decisions related to the optimal scale and mix of outputs.
Details
- Title: Subtitle
- An Examination of Cost Economies in the United States Life Insurance Industry
- Creators
- Martin F. GraceStephen G. Timme
- Resource Type
- Journal article
- Publication Details
- The Journal of risk and insurance, Vol.59(1), pp.72-103
- Publisher
- American Risk and Insurance Association
- DOI
- 10.2307/253217
- ISSN
- 0022-4367
- eISSN
- 1539-6975
- Number of pages
- 32
- Language
- English
- Date published
- 03/01/1992
- Academic Unit
- Finance
- Record Identifier
- 9984701252802771
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