(a) To state: The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

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Answer 1

Question

Chapter 8, Problem 11P

To determine

(a)

To state:

The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

To determine

(b)

To state:

The reason for if a car insurance excluding the insurance of car for commercial use can reduce moral hazards.

To determine

(c)

To state:

The reason behind insurance of a vehicle based on the driving distance helps reduce moral hazards.

To determine

(d)

To state:

The reason behind a vehicle using GPS monitor recording the location and speed can help reduce the hazard problem.

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Answer 2

Question

Chapter 8, Problem 11P

To determine

(a)

To state:

The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

To determine

(b)

To state:

The reason for if a car insurance excluding the insurance of car for commercial use can reduce moral hazards.

To determine

(c)

To state:

The reason behind insurance of a vehicle based on the driving distance helps reduce moral hazards.

To determine

(d)

To state:

The reason behind a vehicle using GPS monitor recording the location and speed can help reduce the hazard problem.

Expert Solution & Answer

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Answer 3

Question

Chapter 8, Problem 11P

To determine

(a)

To state:

The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

To determine

(b)

To state:

The reason for if a car insurance excluding the insurance of car for commercial use can reduce moral hazards.

To determine

(c)

To state:

The reason behind insurance of a vehicle based on the driving distance helps reduce moral hazards.

To determine

(d)

To state:

The reason behind a vehicle using GPS monitor recording the location and speed can help reduce the hazard problem.

Expert Solution & Answer

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Answer 4

Question

Chapter 8, Problem 11P

To determine

(a)

To state:

The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

To determine

(b)

To state:

The reason for if a car insurance excluding the insurance of car for commercial use can reduce moral hazards.

To determine

(c)

To state:

The reason behind insurance of a vehicle based on the driving distance helps reduce moral hazards.

To determine

(d)

To state:

The reason behind a vehicle using GPS monitor recording the location and speed can help reduce the hazard problem.

Expert Solution & Answer

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Answer 5

Chapter 8, Problem 11P

To determine

(a)

To state:

The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

To determine

(b)

To state:

The reason for if a car insurance excluding the insurance of car for commercial use can reduce moral hazards.

To determine

(c)

To state:

The reason behind insurance of a vehicle based on the driving distance helps reduce moral hazards.

To determine

(d)

To state:

The reason behind a vehicle using GPS monitor recording the location and speed can help reduce the hazard problem.

Answer 6

Chapter 8, Problem 11P

To determine

(a)

To state:

The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

Answer 7

Chapter 8, Problem 11P

To determine

(a)

To state:

The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

Answer 8

To determine

(b)

To state:

The reason for if a car insurance excluding the insurance of car for commercial use can reduce moral hazards.

Answer 9

To determine

(b)

To state:

The reason for if a car insurance excluding the insurance of car for commercial use can reduce moral hazards.

Answer 10

To determine

(c)

To state:

The reason behind insurance of a vehicle based on the driving distance helps reduce moral hazards.

Answer 11

To determine

(c)

To state:

The reason behind insurance of a vehicle based on the driving distance helps reduce moral hazards.

Answer 12

To determine

(d)

To state:

The reason behind a vehicle using GPS monitor recording the location and speed can help reduce the hazard problem.

Answer 13

To determine

(d)

To state:

The reason behind a vehicle using GPS monitor recording the location and speed can help reduce the hazard problem.

Answer 14

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Ch. 8 - Prob. 1P Ch. 8 - Draw a standard supply and demand diagram for...Ch. 8 - Prob. 3P Ch. 8 - Prob. 4P Ch. 8 - Prob. 5P Ch. 8 - Prob. 6P Ch. 8 - Prob. 7P Ch. 8 - Prob. 8P Ch. 8 - Prob. 9P Ch. 8 - Prob. 10P

(a) To state: The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

Solution Summary: The author explains that an insurer can know about the seriousness of moral hazard if the policyholder is willing to pay a large deductible.

Concept explainers

(a)

To state:

The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

(b)

To state:

The reason for if a car insurance excluding the insurance of car for commercial use can reduce moral hazards.

(c)

To state:

The reason behind insurance of a vehicle based on the driving distance helps reduce moral hazards.

(d)

To state:

The reason behind a vehicle using GPS monitor recording the location and speed can help reduce the hazard problem.

Chapter 8 Solutions

(a) To state: The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

Solution Summary: The author explains that an insurer can know about the seriousness of moral hazard if the policyholder is willing to pay a large deductible.

Concept explainers

(a) To state: The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

(b) To state: The reason for if a car insurance excluding the insurance of car for commercial use can reduce moral hazards.

(c) To state: The reason behind insurance of a vehicle based on the driving distance helps reduce moral hazards.

(d) To state: The reason behind a vehicle using GPS monitor recording the location and speed can help reduce the hazard problem.

Chapter 8 Solutions

(a)

To state:

The reason an insurer can know something valuable about the seriousness of the moral hazard problem if the policyholder is willing to pay a large deductible amount on policy.

(b)

To state:

The reason for if a car insurance excluding the insurance of car for commercial use can reduce moral hazards.

(c)

To state:

The reason behind insurance of a vehicle based on the driving distance helps reduce moral hazards.

(d)

To state:

The reason behind a vehicle using GPS monitor recording the location and speed can help reduce the hazard problem.