Advanced Search
MyIDEAS: Login to save this article or follow this journal

Survival risks, intertemporal consumption, and insurance: The case of distorted probabilities

Contents:

Author Info

  • Bleichrodt, Han
  • Eeckhoudt, Louis

Abstract

No abstract is available for this item.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.sciencedirect.com/science/article/B6V8N-4HMFJ3Y-1/2/14909da407764f32c311dbcb15b72678
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Elsevier in its journal Insurance: Mathematics and Economics.

Volume (Year): 38 (2006)
Issue (Month): 2 (April)
Pages: 335-346

as in new window
Handle: RePEc:eee:insuma:v:38:y:2006:i:2:p:335-346

Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/505554

Related research

Keywords:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Rosen, Sherwin, 1988. " The Value of Changes in Life Expectancy," Journal of Risk and Uncertainty, Springer, Springer, vol. 1(3), pages 285-304, September.
  2. Mohammed Abdellaoui, 2000. "Parameter-Free Elicitation of Utility and Probability Weighting Functions," Management Science, INFORMS, INFORMS, vol. 46(11), pages 1497-1512, November.
  3. Yaari, Menahem E, 1987. "The Dual Theory of Choice under Risk," Econometrica, Econometric Society, Econometric Society, vol. 55(1), pages 95-115, January.
  4. Donald S. Shepard & Richard J. Zeckhauser, 1984. "Survival versus Consumption," Management Science, INFORMS, INFORMS, vol. 30(4), pages 423-439, April.
  5. Matthew Rabin, 2001. "Risk Aversion and Expected Utility Theory: A Calibration Theorem," Levine's Working Paper Archive 7667, David K. Levine.
  6. Wakker, Peter P & Thaler, Richard H & Tversky, Amos, 1997. "Probabilistic Insurance," Journal of Risk and Uncertainty, Springer, Springer, vol. 15(1), pages 7-28, October.
  7. Tversky, Amos & Kahneman, Daniel, 1992. " Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, Springer, vol. 5(4), pages 297-323, October.
  8. Drazen Prelec, 1998. "The Probability Weighting Function," Econometrica, Econometric Society, Econometric Society, vol. 66(3), pages 497-528, May.
  9. Fox, Craig R & Rogers, Brett A & Tversky, Amos, 1996. "Options Traders Exhibit Subadditive Decision Weights," Journal of Risk and Uncertainty, Springer, Springer, vol. 13(1), pages 5-17, July.
  10. Chang, Fwu-Ranq, 1991. "Uncertain Lifetimes, Retirement and Economic Welfare," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 58(230), pages 215-32, May.
  11. Dan Usher, 1973. "An Imputation to the Measure of Economic Growth for Changes in Life Expectancy," NBER Chapters, National Bureau of Economic Research, Inc, in: The Measurement of Economic and Social Performance, pages 193-232 National Bureau of Economic Research, Inc.
  12. Conley, Bryan C, 1976. "The Value of Human Life in the Demand for Safety," American Economic Review, American Economic Association, American Economic Association, vol. 66(1), pages 45-55, March.
  13. Reinhard Selten & Abdolkarim Sadrieh & Klaus Abbink, 1999. "Money Does Not Induce Risk Neutral Behavior, but Binary Lotteries Do even Worse," Theory and Decision, Springer, Springer, vol. 46(3), pages 213-252, June.
  14. Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 38(2), pages 332-382, June.
  15. Johansson, Per-Olov, 2002. " On the Definition and Age-Dependency of the Value of a Statistical Life," Journal of Risk and Uncertainty, Springer, Springer, vol. 25(3), pages 251-63, November.
  16. George Wu & Richard Gonzalez, 1996. "Curvature of the Probability Weighting Function," Management Science, INFORMS, INFORMS, vol. 42(12), pages 1676-1690, December.
  17. Han Bleichrodt & Jose Luis Pinto, 2000. "A Parameter-Free Elicitation of the Probability Weighting Function in Medical Decision Analysis," Management Science, INFORMS, INFORMS, vol. 46(11), pages 1485-1496, November.
  18. Diecidue, Enrico & Wakker, Peter P., 2002. "Dutch books: avoiding strategic and dynamic complications, and a comonotonic extension," Mathematical Social Sciences, Elsevier, Elsevier, vol. 43(2), pages 135-149, March.
  19. Smith, V Kerry & Desvousges, William H, 1987. "An Empirical Analysis of the Economic Value of Risk Changes," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 95(1), pages 89-114, February.
  20. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 40(2), pages 351-401, June.
  21. Ehrlich, Isaac, 2000. "Uncertain lifetime, life protection, and the value of life saving," Journal of Health Economics, Elsevier, Elsevier, vol. 19(3), pages 341-367, May.
  22. Arthur, W B, 1981. "The Economics of Risks to Life," American Economic Review, American Economic Association, American Economic Association, vol. 71(1), pages 54-64, March.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Max Groneck & Alexander Ludwig & Alexander Zimper, 2013. "A Life-Cycle Model with Ambiguous Survival Beliefs," Working Paper Series in Economics, University of Cologne, Department of Economics 63, University of Cologne, Department of Economics, revised 22 Nov 2013.
  2. Malevergne, Y. & Rey, B., 2009. "On cross-risk vulnerability," Insurance: Mathematics and Economics, Elsevier, Elsevier, vol. 45(2), pages 224-229, October.
  3. Jaume Belles-Sampera & José M. Merigó & Montserrat Guillén & Miguel Santolino, 2012. "The connection between distortion risk measures and ordered weighted averaging operators," IREA Working Papers, University of Barcelona, Research Institute of Applied Economics 201201, University of Barcelona, Research Institute of Applied Economics, revised Jan 2012.
  4. Ludwig, Alexander & Zimper, Alexander, 2007. "A Parsimonious Model of Subjective Life Expectancy," Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim 07-65, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
  5. repec:hal:wpaper:halshs-00748662 is not listed on IDEAS
  6. Nicolas Drouhin, 2012. "A rank-dependent utility model of uncertain lifetime, time consistency and life insurance," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL halshs-00748662, HAL.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eee:insuma:v:38:y:2006:i:2:p:335-346. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.