Self-Insurance, Self-Protection and Market Insurance within the Dual Theory of Choice

Christophe Courbage
Additional contact information
Christophe Courbage: Lombard Odier & Cie, Geneva, Switzerland

The Geneva Risk and Insurance Review, 2001, vol. 26, issue 1, 43-56

Abstract: As demonstrated by Ehrlich and Becker [1972], Expected Utility Theory predicts that market insurance and self-insurance are substitutes, whilst surprisingly, market insurance and self-protection could be complements. This article examines the robustness of this conclusion, as well as its extensions under the Dual Theory of Choice [Yaari, 1987]. In particular, the non-reliability of self-insurance activities, background risk and asymmetric information are considered. The Geneva Papers on Risk and Insurance Theory (2001) 26, 43–56. doi:10.1023/A:1011212324117

Date: 2001
References: Add references at CitEc
Citations: View citations in EconPapers (24)

Downloads: (external link)
http://www.palgrave-journals.com/grir/journal/v26/n1/pdf/grir2001132a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/grir/journal/v26/n1/full/grir2001132a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:genrir:v:26:y:2001:i:1:p:43-56

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10713

Access Statistics for this article

The Geneva Risk and Insurance Review is currently edited by Michael Hoy and Nicolas Treich

More articles in The Geneva Risk and Insurance Review from Palgrave Macmillan, International Association for the Study of Insurance Economics (The Geneva Association) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().