 The End of Behavioral InsuranceGlenn W. Harrison ()
A chapter in Handbook of Insurance, 2025, pp 3-25 from Springer Abstract: Abstract Our descriptive understanding of observed insurance behavior has been enhanced by considering alternative modeling approaches, and promises to do the same to our normative evaluation of that behavior. Those alternatives come from the field of behavioral economics, which offers explicit, alternative characterizations of the way in which decisions have been made. The value of these alternatives is clear in a wide range of topics in empirical insurance, to the point where there is now no reason to debate why we need to consider them. Indeed, recognition that behavioral insurance has come to stay in our scholarship allows us to signal the end of the need to even make the case for behavioral insurance. However, that recognition does not mean that every claim from behavioral insurance is to be accepted at face value, and many are dubious or loosely applied. Much remains to be done more carefully, and much simply remains to be done. Keywords: Behavioral insurance; Behavioral economics; Risk preferences; Intertemporal risk aversion; Subjective beliefs; D01; D9; D81; D83 (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-69674-9_1 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-69674-9_1 Access Statistics for this chapter More chapters in Springer Books from Springer |
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