Read Online (Free) relies on page scans, which are not currently available to screen readers. To access this article, please contact JSTOR User Support . We'll provide a PDF copy for your screen reader. With a personal account, you can read up to 100 articles each month for free. Show
Already have an account? Log in Monthly Plan
Yearly Plan
Log in through your institution journal article DESTRUCTIVE COMPETITION AND MARKET UNSUSTAINABILITY IN THE LINER SHIPPING INDUSTRYInternational Journal of Transport Economics / Rivista internazionale di economia dei trasporti Vol. 17, No. 3 (OCTOBER 1990) , pp. 227-245 (19 pages) Published By: Accademia Editoriale https://www.jstor.org/stable/42747121 Read and download Log in through your school or library
Alternate access options For independent researchers Read Online Read 100 articles/month free Subscribe to JPASS Unlimited reading + 10 downloads Abstract While periodic bouts of cutthroat or destructive competition have been a perennial problem in the ocean liner industry, little analysis has been done of its causes. This paper uses the concept of "unsustainability", introduced by Baumol, Panzar and Willig, to explore economic conditions which may contribute to market instability and cutthroat competition in the industry. Several prime sources of instability are identified and the analytic framework is shown to provide numerous valuable insights into both the causes of the problem and into the manner by which the industry has responded. Journal Information Since 1974, the main aims of the Review is to bring together the research work beig done in the field of Transport Economics and arrange it organically in the form of a synthesis between theory and fact. The situation facing transport economics is one in which old problems remain to be solved and new ones have been created by a wider range of information and improved methods of analysis. In addition, foreseeable development in the internal logic of theories and the formulation of fresh hypotheses to interpret complex phenomena, both economic and non-economic, are becoming the object of further research for which the Review is intended to be a medium of expression and comparison. It is important in this respect to stress the fact that transport economics is prepared to take advantage of contributions from allied sciences and combine them in providing a more convincing interpretation of realities together with solutions to concrete problems. Within this framework the contributions to the Review from inside and outside Italy, though differing in standpoint and cultural background, will all be expected to maintain a rigorous standard of scientific scholarship. Rights & Usage This item is part of a JSTOR Collection. Abstract This paper provides a detailed study of the structure, behavior, and performance of the property and liability insurance industry in the United States. The property insurance industry is shown to possess all of the structural characteristics normally associated with competitive markets. Despite a competitive market structure, however, the property-liability insurance industry has traditionally set prices through cartel-like rating bureaus and has been subjected to pervasive state rate regulation. The study concludes that the combination of state regulation, cartel pricing, and other legal peculiarities has resulted in the use of an inefficient sales technique, supply shortages, and over-capitalization. Free entry, however, tends to drive profits toward the cost of capital. Based on recent experience in states where the competitive market is used to determine insurance rates, the study suggests a movement away from rate regulation and cartel pricing to open competition, as a means of eliminating prevailing performance problems. Publisher Information The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND focuses on the issues that matter most such as health, education, national security, international affairs, law and business, the environment, and more. With a research staff consisting of some of the world's preeminent minds, RAND has been expanding the boundaries of human knowledge for more than 60 years. Rights & Usage This item is part of a JSTOR Collection. Which one of the following is considered to be an acquisition expense for an insurance company?Advertising expenses. Which one of the following is considered to be an acquisition expense for an insurance company? Losses arising from claims.
What is one way in which insurance reduction of uncertainty benefits society?Reduces uncertainty. What is one way in which insurance's reduction of uncertainty benefits society? Entrepreneurs will take the risk of establishing new businesses. Insurance customers' loss exposures arise out of their activities, as well as. Insureds' property.
What term refers to the ability of an insurer to meet its obligations as they become due?Solvency refers to the ability of an insurer to meet its obligations as they become due.
Which of the following best describes the concept that the insured pays a small amount of premium for a large amount of risk on the part of the insurance company?Which of the following best describes the concept that the insured pays a small amount of premium for a large amount of risk on the part of the insurance company? Aleatory... an insurance contract is an aleatory contract that requires a relatively small amount of premium for a large risk.
|
Which of the following is a potential consequence of destructive competition in the insurance industry?
zusammenhängende Posts
Urheberrechte © © 2024 membukakan Inc.
