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Borch’s Theorem: A Historical Survey of Applications

In: Risk, Information and Insurance

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  • Jean Lemaire

Abstract

Utility theory was introduced in the actuarial world by Borch [8], in 1961. In a series of celebrated papers, ([5], [6], [7], [9], [11]), he progressively developed the risk exchange model that will forever bear his name. Over a quarter of a century after its creation, the model continues to attract worldwide attention, as demonstrated by the continous flow of articles applying, or extending, Borch’s seminal ideas. Self-contained presentations of the model can be found in the textbooks of Borch [10], Bühlmann [13], and Gerber [23], among others.

Suggested Citation

  • Jean Lemaire, 1991. "Borch’s Theorem: A Historical Survey of Applications," Springer Books, in: Henri Loubergé (ed.), Risk, Information and Insurance, chapter 2, pages 15-37, Springer.
  • Handle: RePEc:spr:sprchp:978-94-009-2183-2_2
    DOI: 10.1007/978-94-009-2183-2_2
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