An experimental investigation of insurance decisions in low probability and high loss risk situations

Ozlem Ozdemir and Andrea Morone

Journal of Economic Interaction and Coordination, 2014, vol. 9, issue 1, 53-67

Abstract: This experimental study investigates insurance decisions in low-probability, high-loss risk situations. Results indicate that subjects consider the probability of loss (loss size) when they make buying decisions (paying decisions). Most individuals are risk averse with no specific threshold probability. Copyright Springer-Verlag Berlin Heidelberg 2014

Keywords: Risk; Insurance; Low probability; High loss; Experiment; C91; D81 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/s11403-013-0112-2

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