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The comparative statics of deductible insurance in expected- and non-expected-utility theories : 074072 (E12) Schlee E.E., Arizona State University, Tempe, The Geneva Papers on Risk and Insurance, Vol. 20, nr. 01, 1995, pp. 57–72

Publisher: Elsevier Science
Year: 1996
Tongue: English
Weight: 117 KB
Volume: 17
Category: Article
ISSN: 0167-6687
DOI: 10.1016/s0167-6687(96)90146-8

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✦ Synopsis

insurance theory to departures from the expected utility hypothesis on agents' risk preferences. The areas explored consist of individual demand for co-insurance . .~and deductible insurance, the structure of Paretoefficient bilateral insurance contracts, the structure of Pareto-efficient multilateral risk-sharing agreements, and self-insurance and self-protection. Most, though not all, of the basic results in this area are found to be quite robust to dropping the expected utility hypothesis.

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