King’s College London Chapter 3 Theoretical Models to Empirical Testing Paper


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This is the third chapter in a big thesis.
A total of 700+ words are required.
You only need to take care of chapter 3 below.
The specific requirements have been attached.
You can think of the whole article as a huge literature review, which requires knowledge of
quantitative analysis and econometrics.
The instruction has been attached.
All files can be access:
If you do need intro or 2nd part, please ask me to provide.
Instruction for Chapter 3 is attached below.
IEEE format.
The third and fourth parts are strongly recommended to read Cohen and Siegelman (2010)
carefully before writing. We write thesis based on this article as an inspiration/template for
modification. This sample essay is very helpful to clarify the ideas. If not read,
I am very worried whether y o u can really get my main idea
3. Fr om Theor etical Models to Empir ical Testing? This part is a preview of 4, so you
need to read the reference article of 4 before you can write it.
(700+ words total)
Lag and Difficulties: Talking about the limitation of empirical works — For the
content, please refer to P57 of Chiappori (2000)-Please don’t learn from or rephrasing.
The example is to look at the general writing style and ideas. ?100+ words?
Insurance Markets: a preferable Empirical Testing Environment:?200+ words?—The
content of this subsection should be appropriately linked to 3.1. 3.1 talks about the
difficulties of empirical analysis, and 3.2 naturally also expresses: how the
characteristics of the insurance market can adapt to 3.1
Data advantages?quantity, quality, availability
why insurance market’s is good? —-The ideas of the auto insurance market can
be referred to Chiappori, Salanié(1997) P946?Do not copy pasting or rephrasing
Empirical Methodologies:?200+ words) —This part is a summary and conciseness of
the measurement models involved in all the papers in 4? –only a short summarization
of econometric models, trying to find the common method
Basic econometric model- the basic idea: r efer to
Cohen and Siegelman (2010)
– II. B
For example:“Insofar as the researcher has access to insurers’ information about
policyholders, a natural way to test the coverage–risk correlation is to run a
regression of the following type:
Risk i= ? + ? ? Coverage i+ ? ? X i+ ? i,
where Risk iis a variable representing the ex post realization of policyholder i’s
risk, Coverage iis a variable representing the policyholder’s i’s choice of coverage,
and X iis a vector of all policyholder’s characteristics that are known to the insurer
and potentially relevant for classifying his or her risk. Dionne, Doherty, and
Fombaron (2001) note that it would be preferable to use expected coverage rather
than actual coverage in the foregoing specification in order to address problems of
non-linearities or misspecifications.”
Sophisticated econometric model: — based on Chiappori and Salanié(2000) ? For
the structure of ideas, please refer to Chiappori and Salanié (1997) P948-949.
There is a clear text summary, but do not rephrase.
1. Parametric approach: bivariate probit model
2. Non-parametric approach: ?2 Test

Purchase answer to see full

Explanation & Answer:
700 Words

risk exposure

insurance markets

empirical evidences

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