Artikel
Risk aversion loss aversion, and the demand for insurance
In this paper we analyze insurance demand when the utility function depends both upon final wealth and the level of losses or gains relative to a reference point. Besides some comparative statics results, we discuss the links with first-order risk aversion, with the Omega measure, and with a tendency to over-insure modest risks that has been been extensively documented in real insurance markets.
- Language
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Englisch
- Bibliographic citation
-
Journal: Risks ; ISSN: 2227-9091 ; Volume: 6 ; Year: 2018 ; Issue: 2 ; Pages: 1-19 ; Basel: MDPI
- Classification
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Wirtschaft
- Subject
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first-order risk aversion
stochastic dominance
insurance
expected utility
- Event
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Geistige Schöpfung
- (who)
-
Eeckhoudt, Louis
Fiori, Anna Maria
Gianin, Emanuela Rosazza
- Event
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Veröffentlichung
- (who)
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MDPI
- (where)
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Basel
- (when)
-
2018
- DOI
-
doi:10.3390/risks6020060
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Eeckhoudt, Louis
- Fiori, Anna Maria
- Gianin, Emanuela Rosazza
- MDPI
Time of origin
- 2018
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