NHH Brage (Norges Handelshøyskole)
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Insurance in a Changing Climate: A Retrospective Study of Water-Related Claims and Pricing Strategies in Norway
Full text linkClimate change has posed significant challenges to socioeconomic systems across the world, with the insurance industry at the forefront of facing climate risks. Recognizing the growing importance of climate risk management in insurance practices, this study investigates the impact of weather events on water-related home insurance claims by utilizing a unique dataset from a leading Norwegian insurance company. We propose an effective statistical model to address the zero-inflation and over-dispersion inherent in claim count data and introduce a retrospective approach to reconstruct historical claim profiles leveraging high-resolution weather data. Our results reveal geographical variations in weather-related risks for home insurance in two largest Norwegian cities and identify seasonal patterns in insurance claims. Furthermore, we evaluate both reactive and proactive pricing strategies based on the retrospective analysis, providing actionable insights for insurers to adjust premiums in response to evolving climate risks. This research offers a robust framework for integrating weather data into actuarial modeling and contributes to the adaptation of the insurance industry to a changing climate
Income Equality in The Nordic Countries: Myths, Facts, and Lessons
Full text linkPolicymakers, public commentators, and researchers often cite the Nordic countries as examples of a social and economic model that successfully combines low income inequality with prosperity and growth. This article aims to critically assess this claim by integrating theoretical perspectives and empirical evidence to illustrate how the Nordic model functions and why these countries experience low inequality. Our analysis suggests that income equality in the Nordics is primarily driven by a significant compression of hourly wages, reducing the returns to labor market skills and education. This appears to be achieved through a wage bargaining system characterized by strong coordination both within and across industries. This finding contrasts with other commonly cited explanations for Nordic income equality, such as redistribution through the taxtransfer system, public spending on goods that complement employment, and public policies aimed at equalizing skills and human capital distribution. We consider the potential lessons for other economies that seek to reduce income equality. We conclude by discussing several underexplored or unresolved questions and issues
How Tinted Are Your Glasses? Gender Views, Beliefs and Recommendations in Hiring
Full text linkWe study the gendered impact of recommendations at different stages of the hiring process. First, using a large sample of reference letters from the academic job market for economists, we document that women receive fewer ‘ability’ and more ‘grindstone’ letters. Next, we conduct two experiments — with academic economists and a broader, college-educated, population — analyzing both recommendation and recruitment stages. These confirm that recommendations are gendered and impact recruitment. We elicit gender views and beliefs about the effectiveness of different letter types, uncovering that gender attitudes and strategic behavior based on erroneous beliefs explain referees’ choices. Finally, we decompose gender recruitment gaps into two components: one capturing differences in treatment of candidates with identical qualities, the other reflecting recruiters’ failure to account for gendered patterns in recommendations. We show that recruiters’ failure to recognize the gendered nature of reference letters undermines visible efforts to improve diversity in hiring
The Fatal Consequences of Brain Drain
Full text linkThis paper examines the welfare consequences of reallocating high-skilled labor across borders. A labor demand shock in Norway—driven by a surge in oil prices—substantially increased physician wages and sharply raised the incentive for Swedish doctors to commute across the border. Leveraging linked administrative data and a dose-response difference-in-differences design, we show that this shift doubled commuting rates and significantly reduced Sweden’s domestic physician supply. The result was a persistent rise in mortality, with no corresponding health gains in Norway. These effects were unevenly distributed, disproportionately harming certain places and populations. The underlying mechanism was a severe strain on Sweden’s healthcare system: shortages of young, high-skilled generalists led to more hospitalizations, premature discharges, higher readmission rates, and delayed care. Mortality effects were larger in low-density physician regions and concentrated in older individuals and acute conditions—circulatory, respiratory, and infectious diseases. Our findings show that even temporary, intensive-margin shifts in skilled labor can generate large and unequal welfare losses when public services are already capacity-constrained
Pareto Optimal Insurance Policies: Kinks with or without frictions
Full text linkWe analyze optimal risk sharing between a customer and an in surer, and present alternative explanations for the prevalence of kinks in Pareto optimal contracts, like deductibles and upper bounds as in XL-contracts. Linear indemnity functions have primarily been considered in the literature. We focus on nonlinear contracts, which can be explained on the basic of different preferences held by the parties involved. In this setting we derive Pareto optimal contracts with ”near” deductibles and ”near’ caps, which we illustrate by examples. Lastly we consider a model based on non-verifiability where the insurer is risk-neutral. We change to a setting where both the cedent and the reinsurer are strictly risk averse. This rationalizes both an endogenous upper cap and a deductible, retaining compensations for risk bearing
Collaborative logistics and digital technologies in rural contexts: a systematic review and a decision aid model for logistics decision-makers
Full text linkCollaboration and digital technologies are critical enablers for improving logistics systems by enhancing coordination, optimizing resource use, and increasing supply chain responsiveness. Although both areas have been widely studied, their intersection—especially in rural areas—remains underexplored. This paper presents a systematic literature review, conducted in accordance with the PRISMA protocol, to examine how digital technologies support collaborative logistics practices, with particular emphasis on rural contexts. A comprehensive search and rigorous screening of 60 relevant studies revealed literature spanning three interconnected domains: collaborative logistics, digital technologies, and rural logistics. Based on this analysis, we identify three distinct logistics modes that shape interactions between production firms and customers in rural areas: rural-to-rural, rural-to-urban, and urban-to-rural. These modes form the basis of a novel decision-aid model designed to support production system designers and logistics managers in planning and managing collaborative logistics strategies. The model connects suitable collaboration practices with enabling digital technologies. It serves as a practical tool, offering strategic guidance for addressing rural logistics challenges and enhancing system performance through digitally enabled collaboration. The paper concludes by outlining future research directions aimed at advancing knowledge of technology-driven collaboration in logistics systems, particularly in rural settings, where practical insights are still limited
