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Title: A Review of Recent Theoretical and Empirical Analyses of Asymmetric Information in Road Safety and Automobile Insurance
Authors: Dionne, Georges
Michaud, Pierre-Carl
Pinquet, Jean
Keywords: Road safety
point-record driver's license
asymmetric information
moral hazard
road safety management
automobile insurance contract
empirical test
Issue Date: 2012-01
Series/Report no.: Cahiers du CIRPÉE;12-04
Abstract: Road safety policies and automobile insurance contracts often use incentive mechanisms based on traffic violations and accidents to promote safe driving. Can these mechanisms improve road safety efficiently? Do they reduce asymmetric information between drivers and insurers and regulators? In other words, is there residual asymmetric information in observed distributions of accidents and infractions? We answer these questions in this chapter by reviewing recent theoretical and empirical results based on various data and methodologies. We present recent tests related to the identification of residual asymmetric information in road safety management and in automobile insurance contracting. We also propose a theoretical analysis of the foundations of point-record driver’s licenses observed around the world.
Appears in Collections:Cahiers de recherche du CIRPÉE

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