https://scholars.lib.ntu.edu.tw/handle/123456789/414433
Title: | Disappointment and the optimal insurance contract | Authors: | Huang R.J. Shih P.-T. Tzeng L.Y. |
Keywords: | coinsurance;deductible;disappointment;optimal insurance contract | Issue Date: | 2012 | Journal Volume: | 37 | Journal Issue: | 2 | Start page/Pages: | 258-284 | Source: | GENEVA Risk and Insurance Review | Abstract: | This paper studies the optimal insurance contract under disappointment theory. We show that, when the individuals anticipate disappointment, there are two types of optimal insurance contract. The first type contains a deductible and a coinsurance above the deductible. We find that zero marginal cost is just a sufficient but not a necessary condition for a zero deductible. The second type has no deductible and the optimal insurance starts with full coverage for small losses and includes a coinsurance above an upper value of the full coverage. ? 2012 The International Association for the Study of Insurance Economics. |
URI: | https://scholars.lib.ntu.edu.tw/handle/123456789/414433 | ISSN: | 1554964X | DOI: | 10.1057/grir.2012.2 https://www.scopus.com/inward/record.uri?eid=2-s2.0-84865784838&doi=10.1057%2fgrir.2012.2&partnerID=40&md5=b1a0ddbb5fa7cdf925f184399f02936b |
Appears in Collections: | 財務金融學系 |
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Huang2012_Article_DisappointmentAndTheOptimalIns.pdf | 520.3 kB | Adobe PDF | View/Open |
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