TY - JOUR
T1 - Rudiments of insurance purchasing
T2 - a graphical state-claims analysis
AU - Kahane, Yehuda
AU - Schlesinger, Harris
AU - Yanai, Nitzan
PY - 1988/12
Y1 - 1988/12
N2 - The purpose of this note is to show how some of the main results existing in the insurance literature can be easily and effectively illustrated using a state-claims approach instead of the traditional utility analysis, which is more popular in insurance research and teaching. This approach is used to show how the level of insurance purchased changes as a function of a fixed and proportional loading factor, and under varying degrees of risk aversion, and alternative state-dependent utility environment.
AB - The purpose of this note is to show how some of the main results existing in the insurance literature can be easily and effectively illustrated using a state-claims approach instead of the traditional utility analysis, which is more popular in insurance research and teaching. This approach is used to show how the level of insurance purchased changes as a function of a fixed and proportional loading factor, and under varying degrees of risk aversion, and alternative state-dependent utility environment.
KW - Coinsurance
KW - Loading
KW - Optimal insurance
KW - Risk aversion
KW - State-claims approach
KW - State-dependent utility
KW - Utility
UR - http://www.scopus.com/inward/record.url?scp=38249029060&partnerID=8YFLogxK
U2 - 10.1016/0167-6687(88)90078-9
DO - 10.1016/0167-6687(88)90078-9
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AN - SCOPUS:38249029060
SN - 0167-6687
VL - 7
SP - 211
EP - 217
JO - Insurance: Mathematics and Economics
JF - Insurance: Mathematics and Economics
IS - 4
ER -