AMBIGUITY AND UNDERWRITER DECISION-PROCESSES

被引：91
作者：
KUNREUTHER, H
MESZAROS, J
HOGARTH, RM
SPRANCA, M
机构：
[1] TEMPLE UNIV,PHILADELPHIA,PA 19122
[2] UNIV CHICAGO,GRAD SCH BUSINESS,CHICAGO,IL 60637
[3] UNIV CALIF BERKELEY,BERKELEY,CA 94720
来源：
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 1995年 / 26卷 / 03期
基金：
美国国家科学基金会;
关键词：
D O I：
10.1016/0167-2681(94)00041-C
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper provides empirical evidence that risk and ambiguity affect underwriters' decisions on pricing insurance. A field study of primary-insurance underwriters in a random sample of commercial property-and-casualty insurance companies reveals that premiums are significantly higher for risks when there is either ambiguity regarding the probability of a particular event occurring and/or uncertainty about the magnitude of the resulting loss. The paper suggests economic and organizational rationales for this behaviour and offers several explanations as to why insurers in a competitive market can charge higher prices for ambiguous risks which promise to yield excess profits in the long run.
引用
收藏
页码：337 / 352
页数：16
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