Arbeitspapier

Self-protection and insurance with interdependencies

to related objects

We study optimal investment in self-protection of insured individuals when they face interdependencies in the form of potential contamination from others. If individuals cannot coordinate their actions, then the positive externality of investing in self-protection implies that, in equilibrium, individuals underinvest in self-protection. Limiting insurance coverage through deductibles or selling 'at-fault' insurance can partially internalize this externality and thereby improve individual and social welfare.

Language: Englisch

Bibliographic citation: Series: CFS Working Paper ; No. 2007/22

Classification: Wirtschaft
Noncooperative Games
Externalities
Information, Knowledge, and Uncertainty: General

Subject: Externality
Mitigation
Insurance
Versicherungsökonomik
Versicherungsschaden
Haftung
Entscheidung bei Risiko
Konsuminterdependenz
Spieltheorie

Event: Geistige Schöpfung

(who): Kunreuther, Howard
Muermann, Alexander

Event: Veröffentlichung

(who): Goethe University Frankfurt, Center for Financial Studies (CFS)

(where): Frankfurt a. M.

(when): 2007

Handle: http://hdl.handle.net/10419/25523

URN: urn:nbn:de:hebis:30-39822

Last update: 10.03.2025, 11:42 AM CET

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Object type

Arbeitspapier

Associated

Kunreuther, Howard
Muermann, Alexander
Goethe University Frankfurt, Center for Financial Studies (CFS)

Time of origin

2007

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