Equitable insurance premium schemes
AbstractWe analyze the equity properties of insurance premium schemes where agents are partitioned into groups with different average accident probabilities and each individual has to pay a premium according to the average probability of the group to which it belongs. In particular, we examine the question whether choosing finer partitions to define these groups generates more equitable situations than coarser groups. Though it turns out that partitioning the agents into finer groups can never be Lorenz dominated by the coarser partition, it cannot be guaranteed that finer partitions represent improvements over coarser ones except in very restrictive circumstances.
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Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 19 (2002)
Issue (Month): 1 ()
Note: Received: 27 March 2000/Accepted: 28 August 2000
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Web page: http://link.springer.de/link/service/journals/00355/index.htm
Other versions of this item:
- Bossert, Walter & Fleurbaey, Marc, 2000. "Equitable Insurance Premium Schemes," Working Papers 2000-05, Rice University, Department of Economics.
- W. Bossert & M. Fleurbaey, 2000. "Equitable Insurance Premium Schemes," THEMA Working Papers 2000-03, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
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- Michael Hoy & Julia Witt, 2007.
"Welfare Effects of Banning Genetic Information in the Life Insurance Market: The Case of BRCA1/2 Genes,"
Journal of Risk & Insurance,
The American Risk and Insurance Association, vol. 74(3), pages 523-546.
- Michael Hoy & Julia Witt, 2005. "Welfare Effects of Banning Genetic Information in the Life Insurance Market: The Case of BRCA1/2 Genes," Working Papers 0505, University of Guelph, Department of Economics and Finance.
- Chakravarty, Satya R. & Zoli, Claudio, 2012. "Stochastic dominance relations for integer variables," Journal of Economic Theory, Elsevier, vol. 147(4), pages 1331-1341.
- Michael Hoy & Michael Ruse, 2008. "“No Solution to This Dilemma Exists”: Discrimination, Insurance, and the Human Genome Project," Working Papers 0808, University of Guelph, Department of Economics and Finance.
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