Optimality of deductible: a characterization, with application to Yaari’s dual theory

Alain Chateauneuf, Michèle Cohen and Mina Mostoufi ()
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Mina Mostoufi: Allianz Benelux

PSE-Ecole d'économie de Paris (Postprint) from HAL

Abstract: The main purpose of this paper is to show that left-monotone risk aversion, a meaningful refinement of strong risk aversion, characterizes decision makers for whom deductible insurance is optimal. A second goal is to prove that the deductible's computation is particularly tractable in the case of Yaari's decision makers.

Keywords: Yaari’s model; Jewitt’s left-monotone risk aversion; Optimality of deductible (search for similar items in EconPapers)
Date: 2022-04
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Published in Theory and Decision, 2022, 92, pp.569-580. ⟨10.1007/s11238-022-09880-1⟩

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Journal Article: Optimality of deductible: a characterization, with application to Yaari’s dual theory (2022)
Working Paper: Optimality of deductible: a characterization, with application to Yaari’s dual theory (2022)
Working Paper: Optimality of deductible: a characterization, with application to Yaari’s dual theory (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:pseptp:hal-03722936

DOI: 10.1007/s11238-022-09880-1

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