A Note on Beneficial Changes in Random Variables

Josef Hadar and Tae Kun Seo
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Josef Hadar: Department of Economics, Southern Methodist University, 75275 Dallas TX
Tae Kun Seo: Department of Economics, Southern Methodist University, 75275 Dallas TX

The Geneva Risk and Insurance Review, 1992, vol. 17, issue 2, 179 pages

Abstract: This paper is an extension of Jack Meyer's paper titled “Beneficial Changes in Random Variables Under Multiple Sources of Risk and Their Comparative Statics†published in the June 1992 issue of this journal. The extension consists of showing which of the sufficient conditions in Meyer's Theorems 1 and 3 are also necessary, and which are not. In addition, conditions are provided which are necessary and sufficient for general beneficial changes to imply a decrease in the demand for insurance. The Geneva Papers on Risk and Insurance Theory (1992) 17, 171–179. doi:10.1007/BF00962713

Date: 1992
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