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Finding Pareto Optimal Insurance Contracts

Author

Listed:
  • Ermoliev, Y.M.
  • Flam, S.D.

Abstract

This note deals with on-line computatin of learning of Pareto optimal insurance contracts. We account for the fact that the loss distribution often is unknown, unavailable, or intractable. Alternatively, the contracting parties could be inexperienced. In both cases losses must be simulated of observed, on at a time, these causing iterated revisions of the premium.

Suggested Citation

  • Ermoliev, Y.M. & Flam, S.D., 2001. "Finding Pareto Optimal Insurance Contracts," Norway; Department of Economics, University of Bergen 0501, Department of Economics, University of Bergen.
    • Handle: RePEc:fth:bereco:0501
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    Cited by:

    1. Ching-Ping Wang & Hung-Hsi Huang, 2012. "Optimal insurance contract and coverage levels under loss aversion utility preference," Quantitative Finance, Taylor & Francis Journals, vol. 12(10), pages 1615-1628, October.
    2. Pincheira, Pablo & Zeuli, Kimberly A., 2005. "Cooperative and Area Yield Insurance: A Theoretical Analysis," 2005 Annual Meeting, November 8-9 31822, NCERA-194 Research on Cooperatives.

    More about this item

    Keywords

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    JEL classification:

    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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