生命保険会社の教育投資に関する経済分析

概要

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The purpose of this article is to analyze the educational investments managed by the life insurance firm. Whether the life insurance firm invests depends on the relationship between life insurance firm and life underwriter. This situation can be depicted as principal-agent relationship where the life underwriter chooses his effort level after the life insurance firm invests to improve the life underwriter's marketing skills. Our main result is that the investment decision depends on (1) life underwriter's absolute risk aversion, (2) sales uncertainty, and (3) the degree of improvement in marketing skills. Furthermore, this result can explain why Japanese life insurance firm does not invest aggressively.
2006-02-24