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Cost-axiomatic regulatory pricing

✍ Scribed by Dieter Bös; Georg Tillmann


Book ID
113212867
Publisher
Elsevier Science
Year
1983
Tongue
English
Weight
728 KB
Volume
22
Category
Article
ISSN
0047-2727

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In this paper, we take an axiomatic approach to characterize insurance prices in a competitive market setting. We present four axioms to describe the behavior of market insurance prices. From these axioms it follows that the price of an insurance risk has a Choquet integral representation with respe