Optimal Prevention with Possibilistic and Mixed Background Risk

Irina Georgescu and Ana María Lucia Casademunt ()
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Ana María Lucia Casademunt: Department of Business Administration, Universidad Loyola Andalucia, Córdoba, Spain

New Mathematics and Natural Computation (NMNC), 2018, vol. 14, issue 01, 21-35

Abstract: In this paper, the effect of posibilistic or mixed background risk on the level of optimal prevention is studied. In the framework of five purely possibilistic or mixed models, necessary and sufficient conditions are found such that the level of optimal saving decreases or increases as a result of the actions of various types of background risk. This way our results complete those obtained by Courbage and Rey for some prevention models with probabilistic background risk.

Keywords: Possibilistic background risk; optimal prevention; optimal saving (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:nmncxx:v:14:y:2018:i:01:n:s1793005718500035

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DOI: 10.1142/S1793005718500035

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