Self-Insurance, Self-Protection and Market Insurance within the Dual Theory of Choice

被引：0

作者：

Christophe Courbage

机构：

[1] Lombard Odier & Cie,

来源：

The Geneva Papers on Risk and Insurance Theory | 2001年 / 26卷

关键词：

market insurance; self-insurance; self-protection; Dual Theory;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

As demonstrated by Ehrlich and Becker [1972], Expected Utility Theory predicts that market insurance and self-insurance are substitutes, whilst surprisingly, market insurance and self-protection could be complements. This article examines the robustness of this conclusion, as well as its extensions under the Dual Theory of Choice [Yaari, 1987]. In particular, the non-reliability of self-insurance activities, background risk and asymmetric information are considered.

引用

页码：43 / 56

页数：13