Studies Conducted at Cornell University on Obesity, Fitness and Wellness Recently Reported (Blockchain Adoption and Optimal Reinsurance Design): Obesity, Fitness and Wellness

2024 OCT 08 (NewsRx) -- By a News Reporter-Staff News Editor at Obesity Daily News -- Data detailed on Obesity, Fitness and Wellness have been presented. According to news reporting originating from Ithaca, New York, by NewsRx correspondents, research stated, “We study blockchain adoption in insurance-reinsurance markets. We consider operational costs related to claim verification and record -keeping.”

Financial support for this research came from AXA Research Fund.

Our news editors obtained a quote from the research from Cornell University, “Traditionally, the majority of these costs scale linearly with the volume of claims. Instead, with a consortium blockchain these costs, per firm, become independent of claim volume and decrease with the adoption rate since they are distributed. In a consortium of insurance firms, we quantify how the equilibrium adoption decisions depend on the reinsurance contract characteristics, the risk aversion of insurance companies, the distributions of their potential losses and the blockchain cost structure. Under the optimal contract, the reinsurance firm internalizes the benefits of adoption on other insurance firms, thereby acting as a central planner.”

According to the news editors, the research concluded: “We then characterize the adoption gap between decentralized (Nash) and centralized blockchain consortia.”

This research has been peer-reviewed.

For more information on this research see: Blockchain Adoption and Optimal Reinsurance Design. European Journal of Operational Research, 2024;318(1):341-353. European Journal of Operational Research can be contacted at: Elsevier, Radarweg 29, 1043 Nx Amsterdam, Netherlands. (Elsevier - www.elsevier.com; European Journal of Operational Research - http://www.journals.elsevier.com/european-journal-of-operational-research/)

The news editors report that additional information may be obtained by contacting Andreea Minca, Cornell University, School of Operations Research & Information Engineering, Ithaca, NY 14850, United States. Additional authors for this research include Hamed Amini, Romain Deguest and Engin Iyidogan.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.ejor.2024.03.033. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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