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New axiomatic characterizations of utilitarianism

✍ Scribed by Vladimir L. Levin


Publisher
Elsevier Science
Year
2009
Tongue
English
Weight
609 KB
Volume
58
Category
Article
ISSN
0165-4896

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Axiomatic characterization of insurance
✍ Shaun S. Wang; Virginia R. Young; Harry H. Panjer πŸ“‚ Article πŸ“… 1997 πŸ› Elsevier Science 🌐 English βš– 613 KB

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