Substituabilité entre assurance et auto-assurance: une propriété robuste à l’asymétrie d’information et à l’ambiguïté

Marielle Brunette (), Anne Corcos (), Stéphane Couture and François Pannequin
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Marielle Brunette: BETA - Bureau d'Économie Théorique et Appliquée - AgroParisTech - UNISTRA - Université de Strasbourg - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CEC - Chaire Economie du Climat - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres
Anne Corcos: CURAPP-ESS - Centre universitaire de recherches sur l'action publique et le politique. Epistémologie et Sciences sociales - UMR CNRS UPJV 7319 - UPJV - Université de Picardie Jules Verne - CNRS - Centre National de la Recherche Scientifique

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Abstract: We study the effect of asymmetric information about self-insurance effort on the substitution property between insurance and self-insurance. We first examine the effect of the insurer's ability to observe the policyholder's self-insurance effort in a risk context. We then extend the analysis to a unilateral ambiguous context where only the policyholder has an ambiguous knowledge of his risk exposure. We find that information on the level of effort has a strategic dimension neither in the risk context nor in the ambiguous one: policyholders choose identical levels of effort, be the effort observable or not. As a result, the substitutability property between insurance and self-insurance is robust to both asymmetric information and ambiguity. The implications for government and insurers are discussed.

Keywords: Risk; ambiguity; Insurance; Self-insurance; Information asymmetry (search for similar items in EconPapers)
Date: 2020-09-25
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Published in Revue d'économie politique, 2020, 130 (4), pp.615-632. ⟨10.3917/redp.304.0111⟩

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Journal Article: Substituabilité entre assurance et auto-assurance: une propriété robuste à l’asymétrie d’information et à l’ambiguïté (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04174315

DOI: 10.3917/redp.304.0111

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