Marketing and Pricing Risk in Marine Insurance in Sixteenth-Century Antwerp

• 成果类型: Article
• 署名作者: University of Antwerp; University of Antwerp
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• DOI: 10.1017/S0022050717000687
• 发表日期: 2017
• 页码: 796-837
• 关键词: institutions; 18th-century; britain; france

摘要

Drawing on a set of insurance contracts brokered in Antwerp in 1562-1563, we demonstrate that by that time Antwerp hosted a sophisticated, large, and international market for marine insurance in which small and large traders could acquire and sell insurance, backed by the intermediation of a large broker, Juan Henriquez who functioned as an open-access institution. Using information from Henriquez's ledgers which was also available to underwriters, we find that insurance premiums reflected the underlying risk and that agents were able to determine the effect of different contract parameters.