Disappointment and the optimal insurance contract

Rachel J. Huang, Pai Ta Shih, Larry Y. Tzeng

研究成果: 雜誌貢獻回顧評介論文同行評審

3 引文 斯高帕斯(Scopus)

摘要

This paper studies the optimal insurance contract under disappointment theory. We show that, when the individuals anticipate disappointment, there are two types of optimal insurance contract. The first type contains a deductible and a coinsurance above the deductible. We find that zero marginal cost is just a sufficient but not a necessary condition for a zero deductible. The second type has no deductible and the optimal insurance starts with full coverage for small losses and includes a coinsurance above an upper value of the full coverage.

原文???core.languages.en_GB???
頁(從 - 到)258-284
頁數27
期刊GENEVA Risk and Insurance Review
37
發行號2
DOIs
出版狀態已出版 - 9月 2012

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