Marketing and Pricing Risk in Marine Insurance in Sixteenth-Century Antwerp
基于1562-1563年安特卫普的保险合约，研究发现当时已存在成熟的海上保险市场，保费能反映风险，经纪人作为开放准入机构促进了交易。
Drawing on a set of insurance contracts brokered in Antwerp in 1562–1563, we demonstrate that by that time Antwerp hosted a sophisticated, large, and international market for marine insurance in which small and large traders could acquire and sell insurance, backed by the intermediation of a large broker, Juan Henriquez who functioned as an open-access institution. Using information from Henriquez's ledgers which was also available to underwriters, we find that insurance premiums reflected the underlying risk and that agents were able to determine the effect of different contract parameters.