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@article{ART001393413},
author={이민환 and CHOI KANGSIK},
title={The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game},
journal={Journal of Insurance and Finance},
issn={2384-3209},
year={2009},
volume={20},
number={3},
pages={41-66}

TY - JOUR
AU - 이민환
AU - CHOI KANGSIK
TI - The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game
JO - Journal of Insurance and Finance
PY - 2009
VL - 20
IS - 3
PB - Korea Insurance Research Institute
SP - 41
EP - 66
SN - 2384-3209
AB - The objective of this paper is to investigate the competitions among Korean life insurance companies, using an endogenous timing game in the presence of asymmetric externalities. This application is appropriate, since Korean life insurance market confronts various types of risks as the market is liberalized, and different types of companies, which can be categorized as large size, small size, and foreign companies, are competing one another. Our endogenous timing game model provides two main results. First, the unique subgame perfect Nash equilibrium outcome of the Cournot-type production volume competition is that the small firms become leaders endogenously due to asymmetric externalities. Second, the unique subgame perfect Nash equilibrium outcome of the Bertrand-type price competition game is that big firms become leaders.
KW - competition;complements;endogenous timing game;external effect;followers; leaders;life insurance;substitutes
DO -
UR -
ER -

이민환 and CHOI KANGSIK. (2009). The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game. Journal of Insurance and Finance, 20(3), 41-66.

이민환 and CHOI KANGSIK. 2009, "The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game", Journal of Insurance and Finance, vol.20, no.3 pp.41-66.

이민환, CHOI KANGSIK "The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game" Journal of Insurance and Finance 20.3 pp.41-66 (2009) : 41.

이민환, CHOI KANGSIK. The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game. 2009; 20(3), 41-66.

이민환 and CHOI KANGSIK. "The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game" Journal of Insurance and Finance 20, no.3 (2009) : 41-66.

이민환; CHOI KANGSIK. The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game. Journal of Insurance and Finance, 20(3), 41-66.

이민환; CHOI KANGSIK. The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game. Journal of Insurance and Finance. 2009; 20(3) 41-66.

이민환, CHOI KANGSIK. The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game. 2009; 20(3), 41-66.

이민환 and CHOI KANGSIK. "The Analysis of Cournot and Bertrand Competition among Korean Life Insurance Companies Using Externality-Induced Endogenous Timing Game" Journal of Insurance and Finance 20, no.3 (2009) : 41-66.