Pricing insurance contracts under cumulative prospect theory (Q2427822)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Pricing insurance contracts under cumulative prospect theory |
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Pricing insurance contracts under cumulative prospect theory (English)
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18 April 2012
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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.
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cumulative prospect theory
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premium principle
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non-expected utility
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