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
URL de la notice HAL
Version
- 1
Volume
- 92