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

Article dans une revue: 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.

Auteur(s)

Alain Chateauneuf, Michèle Cohen, Mina Mostoufi

Revue
  • Theory and Decision
Date de publication
  • 2022
Mots-clés
  • Yaari’s model
  • Jewitt’s left-monotone risk aversion
  • Optimality of deductible
Pages
  • 569–580
Version
  • 1
Volume
  • 92