WP 2015-13 The Methodologies of Behavioral Insurance: Introduction to the Special Issue

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Published in 2016 in The Journal of Risk and Insurance, Volume 83, Issue 1.

ABSTRACT: The generic insurance product involves an agent giving up a certain amount of money ex ante some risky event in the expectation of being given some money in the future if something unfortunate occurs. It is immediate… more »

WP 2015-10 Evaluating the Expected Welfare Gain from Insurance

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Published in 2016 in The Journal of Risk and Insurance, Volume 83, Issue 1.

ABSTRACT: Economic theory tells us how to evaluate the expected welfare gain from insurance products on offer to individuals. If we know the risk preferences of the individual, and subjective beliefs about loss contingencies and likelihood of payout,… more »