Optimal Insurance: A Nonexpected Utility Analysis
AbstractThis paper reviews some of the recent developments in the theory of decision making under risk and apply them to selected problems in the theory of optimal insurance, namely, the choice of optimal insurance coverage, and the comparative statics analysis of the optimal insurance coverage with respect to the consumer's risk aversion. The analysis highlights the methodology of local expected utility analysis.
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Bibliographic InfoPaper provided by University of Bonn, Germany in its series Discussion Paper Serie A with number 288.
Date of creation: May 1990
Date of revision:
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Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany
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Web page: http://www.bgse.uni-bonn.de/index.php?id=517
Nonexpected utility; expected utility with rank-dependent probabilities; weighted utility; optimal insurance.;
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- Eric LANGLAIS, 2008.
"On Insurance Contract Design For Low Probability Events,"
Journal of Applied Economic Sciences,
Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 3(2(4)_Summ).
- Eric Langlais, 2008. "On insurance contract design for low probability events," EconomiX Working Papers 2008-33, University of Paris West - Nanterre la Défense, EconomiX.
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