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

DOI10.1007/S11238-022-09880-1MaRDI QIDQ2125247zbMATH OpenOpenAlexFDO

Authors Alain Chateauneuf, Michèle Cohen, Mina Mostoufi

Publication date 13 April 2022

Published in Theory and Decision (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s11238-022-09880-1

zbMATH Keywords

Jewitt's left-monotone risk aversionoptimality of deductibleYaari's model

Mathematics Subject Classification ID

Utility theory (91B16) Actuarial mathematics (91G05)

Recommendations

• On the optimality of a straight deductible under belief heterogeneity
• Arrow's theorem of the deductible with heterogeneous beliefs
• Optimal per claim deductibility in insurance with the possibility of risky investments
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• Optimal insurance without expected utility: The dual theory and the linearity of insurance contracts

Cites work

• Arrow's theorem on the optimality of deductibles: A stochastic dominance approach
• Choosing Between Risky Prospects: The Characterization of Comparative Statics Results, and Location Independent Risk
• Four notions of mean-preserving increase in risk, risk attitudes and applications to the rank-dependent expected utility model
• Optimal insurance without expected utility: The dual theory and the linearity of insurance contracts
• Prospect theory. For risk and ambiguity.
• The Dual Theory of Choice under Risk

Cited in

(7)

• Increases in risk and deductible insurance
• Optimal per claim deductibility in insurance with the possibility of risky investments
• The utility of deductibles from the insurer's point of view
• The pricing of optimal insurance policies
• Personal non-life insurance decisions and the welfare loss from flat deductibles
• On the optimality of a straight deductible under belief heterogeneity
• Arrow's theorem of the deductible with heterogeneous beliefs

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