| 来源类型 | FEEM working papers "Note di lavoro" series
|
| 规范类型 | 论文
|
| The Impact of Ambiguity Prudence on Insurance and Prevention |
| Loïc Berger
|
| 发表日期 | 2015
|
| 出处 | Climate Change and Sustainable Development
|
| 出版年 | 2015
|
| 语种 | 英语
|
| 摘要 | Most decisions concerning (self-)insurance and self-protection have to be taken in situations in which a) the effort exerted precedes the moment uncertainty realises, and b) the probabilities of future states of the world are not perfectly known. By integrating these two characteristics in a simple theoretical framework, this paper derives plausible conditions under which ambiguity aversion raises the demand for (self-)insurance and self-protection. In particular, it is shown that in most usual situations where the level of ambiguity does not increase with the level of effort, a simple condition of ambiguity prudence known as decreasing absolute ambiguity aversion (DAAA) is sufficient to give a clear and positive answer to the question: Does ambiguity aversion raise the optimal level of effort?
***
Suggested citation: Berger, L., (2015), 'The Impact of Ambiguity Prudence on Insurance and Prevention', Theory and Decision, August 2015, http://rd.springer.com/article/10.1007%2Fs11238-015-9512-1# |
| 特色分类 | D61;D81;D91;G11
|
| 关键词 | Non-expected Utility
Self-protection
Self-insurance
Ambiguity Prudence
|
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/the-impact-of-ambiguity-prudence-on-insurance-and-prevention/
|
| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/118368
|
推荐引用方式
GB/T 7714 |
Loïc Berger. The Impact of Ambiguity Prudence on Insurance and Prevention. 2015.
|
|
文件名：
|
2015227950351Nota_di_Lavoro.jpg
|
|
格式：
|
JPEG
|
|
文件名：
|
2015227951284NDL2015-015.pdf
|
|
格式：
|
Adobe PDF
|
此文件暂不支持浏览
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
