A Multi-Product Cost Study of the U.S. Life Insurance Industry

A Multi-Product Cost Study of the U.S. Life Insurance Industry This paper reports estimates of overall and product specific economies of scale, as well as, economies of scope for the main outputs of the life insurance industry. In addition, the paper presents a number of structural tests of the production technology. The results indicate that the estimated cost function satisfies the regularity conditions, that the industry exhibits overall and product specific economies of scale, and that there are significant economies of scope between the main lines of business. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Quantitative Finance and Accounting Springer Journals

A Multi-Product Cost Study of the U.S. Life Insurance Industry

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Publisher
Springer Journals
Copyright
Copyright © 2003 by Kluwer Academic Publishers
Subject
Finance; Corporate Finance; Accounting/Auditing; Econometrics; Operation Research/Decision Theory
ISSN
0924-865X
eISSN
1573-7179
D.O.I.
10.1023/A:1023098109619
Publisher site
See Article on Publisher Site

Abstract

This paper reports estimates of overall and product specific economies of scale, as well as, economies of scope for the main outputs of the life insurance industry. In addition, the paper presents a number of structural tests of the production technology. The results indicate that the estimated cost function satisfies the regularity conditions, that the industry exhibits overall and product specific economies of scale, and that there are significant economies of scope between the main lines of business.

Journal

Review of Quantitative Finance and AccountingSpringer Journals

Published: Oct 4, 2004

References

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