An Insurance Pricing Game

Joseph D. Haley

Risk Management and Insurance Review, 2012, vol. 15, issue 1, 117-128

Abstract: Understanding data and statistical distributions is a fundamental part of an undergraduate business student's education. The insurance pricing game presented here gives the students a unique way to apply statistical analysis in the classroom. The game requires decision making about risk with limited information. Specifically, the students must decide what “premium” to charge the members of a hypothetical risk pool. The game provides teachers with a discussion platform for numerous aspects of insurer risk pooling.

Date: 2012
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https://doi.org/10.1111/j.1540-6296.2011.01213.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:rmgtin:v:15:y:2012:i:1:p:117-128

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