Risk Aversion, Loss Aversion, and the ...
Document type :
Compte-rendu et recension critique d'ouvrage
DOI :
Title :
Risk Aversion, Loss Aversion, and the Demand for Insurance
Author(s) :
Eeckhoudt, Louis [Auteur]
Lille économie management - UMR 9221 [LEM]
Fiori, Anna [Auteur]
Università degli Studi di Milano-Bicocca = University of Milano-Bicocca [UNIMIB]
Rosazza Gianin, Emanuela [Auteur]
Università degli Studi di Milano-Bicocca = University of Milano-Bicocca [UNIMIB]
Lille économie management - UMR 9221 [LEM]
Fiori, Anna [Auteur]
Università degli Studi di Milano-Bicocca = University of Milano-Bicocca [UNIMIB]
Rosazza Gianin, Emanuela [Auteur]
Università degli Studi di Milano-Bicocca = University of Milano-Bicocca [UNIMIB]
Journal title :
Risks
Pages :
60
Publisher :
MDPI
Publication date :
2018-06
ISSN :
2227-9091
English keyword(s) :
first-order risk aversion
stochastic dominance
insurance
expected utility
stochastic dominance
insurance
expected utility
HAL domain(s) :
Sciences de l'Homme et Société/Economies et finances
English abstract : [en]
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 ...
Show more >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.Show less >
Show more >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.Show less >
Language :
Anglais
Popular science :
Non
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