保险本质的产权经济学分析——兼与冯冠胜教授商榷

An Analysis of the Essence of Insurance from the Perspective of Property Right Economics——A Discussion With Prof. Feng Guan-shen

保险交易是一种等价、公平的交易。保险风险出险概率低、相关性低的特征决定了被保险人获赔的低概率性和"取丰"与"补歉"的不对等性。保险费经济收益权不确定但均衡,心理收益权则既确定又均衡。保险基金运用的实质是实现其应有的时间价值,保障型保险的基金收益是纯保险费的有机组成部分,被保险人无权分享。在产权经济学的视域里,保险本质是保险费确定性产权与保险金不确定性产权的交换,即确定性财产权与或有性获赔权的交换,确定性的小支出与不确定性的大损失的交换。

The transaction of insurance is an equal and fair one. The characters of low incidence and low correlation of insured risks lead to the low probability of the insureds＇ being indemnified and the inequality of paying and gaining. The right to economic benefit of premium is uncertain but uniform while the right to psychological benefit of premium is certain and uniform. The operation of insurance funds is to realize its intrinsic time value and the revenue of insurance funds is in itself a constituent of net premium inaccessible to the insureds. From the perspective of property right economics, the essence of insurance is a transaction between premium＇ s certain property right and uncertain insurance money, a exchange between certain property right and contingent right of indemnification, a swap of certain but small payment and uncertain but large loss.