On insurance contract design for low probability events
No 2008-33, EconomiX Working Papers from University of Paris Nanterre, EconomiX
This paper extends the analysis of insurance contracts design to the case of "low probability events", when there is a probability mass on the event "no accident-zero loss". The optimality of the deductible clause is discussed both at the theoretical and empirical levels.
Keywords: Optimal insurance design; low probability events; insurance coverage for catastrophic risks (search for similar items in EconPapers)
JEL-codes: D80 D81 (search for similar items in EconPapers)
Pages: 39 pages
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Journal Article: ON INSURANCE CONTRACT DESIGN FOR LOW PROBABILITY EVENTS (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:drm:wpaper:2008-33
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