Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/313142 
Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] The Geneva Risk and Insurance Review [ISSN:] 1554-9658 [Volume:] 48 [Issue:] 1 [Publisher:] Blackwell Publishing Ltd [Place:] Oxford, UK [Year:] 2022 [Pages:] 63-109
Verlag: 
Blackwell Publishing Ltd, Oxford, UK
Zusammenfassung: 
We provide a comprehensive analysis of the impact of probability weighting on optimal insurance demand in a unified framework. We identify decreasing relative overweighting as a new local condition on the probability weighting function that is useful for comparative static analysis. We discuss the effects of probability weighting on coinsurance, deductible choice, insurance demand for low-probability, high-impact risks versus high-probability, low-impact risks, and insurance demand in the presence of nonperformance risk. Probability weighting can make better or worse predictions than expected utility depending on the insurance demand problem at hand.
Schlagwörter: 
Insurance demand
Probability weighting
Non-expected utility
Comparative statics
Decreasing relative overweighting
JEL: 
D11
D81
G22
Persistent Identifier der Erstveröffentlichung: 
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Dokumentart: 
Article
Dokumentversion: 
Published Version

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