THE EFFECT OF AMBIGUITY AVERSION ON INSURANCE AND SELF-PROTECTION

• 成果类型: Article
• 署名作者: Alary, David; Gollier, Christian; Treich, Nicolas
• 署名单位: Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; INRAE
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12035
• 发表日期: 2013
• 页码: 1188-1202
• 关键词: Comparative statics; expected-utility; RISK; MODEL

摘要

In this article, we derive a set of simple conditions such that ambiguity aversion always raises the demand for self-insurance and the insurance coverage, but decreases the demand for self-protection. We also characterise the optimal insurance design under ambiguity aversion and exhibit a case in which the straight deductible contract is optimal as in the expected utility model.