Pricing insurance contracts under cumulative prospect theory (Q2427822)
From MaRDI portal
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Pricing insurance contracts under cumulative prospect theory |
scientific article |
Statements
Pricing insurance contracts under cumulative prospect theory (English)
0 references
18 April 2012
0 references
In the paper, a new premium principle is introduced. This premium principle is based on Cumulative Prospect Theory by \textit{D. Kahneman} and \textit{A. Tversky}, [Econometrica 47, 313--327 (1979; Zbl 0411.90012)]. The various properties of this new premium principle are examined in the text.
0 references
cumulative prospect theory
0 references
premium principle
0 references
non-expected utility
0 references
