Erwann Michel-Kerjan is at the Center for Risk Management and Decision Processes at the Wharton School of the University of Pennsylvania, Philadelphia, PA. Michel-Kerjan can be contacted via e-mail: email@example.com. Paul Raschky is at the Department of Economics at Monash University, Australia. Raschky can be contacted via e-mail: firstname.lastname@example.org. Howard Kunreuther is at the Center for Risk Management and Decision Processes at the Wharton School of the University of Pennsylvania, Philadelphia, PA. Kunreuther can be contacted via e-mail: email@example.com. Partial financial support for this research was provided by Wharton's Managing and Financing Extreme Events project, DHS's Center of Excellence CREATE at the University of Southern California, and Monash University. We thank George Akerlof, Neil Doherty, Marty Feldstein, Scott Harrington, John Karikari, Greg Nini, William Nordhaus, Jesse Shapiro, Terri Vaughan, and seminar participants at the American Economic Association Annual Meeting, National Bureau of Economic Research (NBER) Insurance Group, NBER Economics of National Security Group, University of Pennsylvania, University of Innsbruck, and the OECD high-level international conference on terrorism risk insurance markets for their comments and insightful discussions on an earlier version of this paper [Correction added on 28 August 2015, after first online publication: John Karikari has been added to the Acknowledgement section.]. We appreciate Marsh & McLennan sharing with us the data that were used for our analysis and are indebted to John Rand (formerly at Marsh) for many fruitful discussions on preliminary results. The two journal referees and the editor provided excellent feedback on previous versions of the paper.
Corporate Demand for Insurance: New Evidence From the U.S. Terrorism and Property Markets
Article first published online: 14 MAR 2014
© 2014 The Journal of Risk and Insurance
Journal of Risk and Insurance
Volume 82, Issue 3, pages 505–530, September 2015
How to Cite
Michel-Kerjan, E., Raschky, P. and Kunreuther, H. (2015), Corporate Demand for Insurance: New Evidence From the U.S. Terrorism and Property Markets. Journal of Risk and Insurance, 82: 505–530. doi: 10.1111/jori.12031
- Issue published online: 26 AUG 2015
- Article first published online: 14 MAR 2014
- University of Southern California
- Monash University
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