Gene C. Lai, Robert C. Witt, Hung-Gay Fung, Richard D. MacMinn, Patrick L. Brockett, Great (And Not so Great) Expectations: An Endogenous Economic Explication of Insurance Cycles and Liability Crises, The Journal of Risk and Insurance, Vol. 67, No. 4 (Dec., 2000), pp. 617-652
No takes yet. Share an insight, caveat, or question.
Lai et al. (2000) studied this question.
Synapse has enriched 5 related papers. Consider them for comparative context: