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Skill and Chance in Insurance Policies

In a game theoretical setting it is possible to assign a relative measurement of the skill required to each player for maximizing his payoff in a casino game; according to this approach we analyze the relevance of skill and chance in an insurance contract, both for the insurance company and for the customer.

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Article provided by Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies in its journal AUCO Czech Economic Review.

Volume (Year): 5 (2011)
Issue (Month): 2 (August)
Pages: 191-202

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Handle: RePEc:fau:aucocz:au2011_191
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  1. Patrick Larkey & Joseph B. Kadane & Robert Austin & Shmuel Zamir, 1997. "Skill in Games," Management Science, INFORMS, vol. 43(5), pages 596-609, May.
  2. Borm, P.E.M. & Dreef, M.R.M. & van der Genugten, B.B., 2004. "Measuring skill in games : Several approaches discussed," Other publications TiSEM 2e5d4c52-1421-4311-bb4a-c, Tilburg University, School of Economics and Management.
  3. repec:ner:tilbur:urn:nbn:nl:ui:12-142413 is not listed on IDEAS
  4. repec:ner:tilbur:urn:nbn:nl:ui:12-140730 is not listed on IDEAS
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