An examination of Turkish insurance industry in light of information asymmetry

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Tezin Türü: Yüksek Lisans

Tezin Yürütüldüğü Kurum: Orta Doğu Teknik Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümü, Türkiye

Tezin Onay Tarihi: 2005

Öğrenci: MEHMET FIRAT AYGEN

Danışman: ADİL ORAN

Özet:

The objective of this study is to understand information asymmetry concept with its causes and consequences and its effects on insurance business especially in Turkey. Perfect markets, moral hazard, adverse selection, market signaling, and guarantee concepts are important to have a better examination of asymmetric information as a whole and there are many examples of these concepts faced in insurance sector. In order to have a closer look to Turkish insurance business, some insurance companies are chosen randomly and their general performance, types of information they demand their customers to give and the relation between them are studied. Consequently, it is seen that both companies and customers suffer from asymmetric information. However, there are, of course, some solution suggestions to decrease information asymmetry. A number of these solutions are easy to apply in Turkish market and some others are not that applicable. Therefore, it can be said that the important thing here is to find adaptable solutions not to lengthen the list and waste time by suggesting brilliant but useless ones.