从风险资讯与风险融资看风险的可保性
余鳳全
上海财经大学金融学院，上海
摘要：在气候变迁、极端灾害与资讯不对称加剧的背景下，传统保险制度面临可保性挑战。本文以科斯定理为基础，提出「产权界定—交易成本压缩—市场出清」的制度分析框架，探讨风险资讯与风险融资如何重构可保性。通过九宫格资讯整合与融资扩展模型，指出资讯透明与资本市场嵌入可降低测量与信任成本，提升承保效率与制度韧性。文章主张将保险制度作为韧性治理基础，推动从补偿转向预警与调适，拓展不确定时代的可保边界。
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