Optimal Insurance: A Nonexpected Utility Analysis
This 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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|Date of creation:||May 1990|
|Date of revision:|
|Contact details of provider:|| Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany|
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