Precautionary paying for stochastic improvements under background risks

DOI10.1016/J.INSMATHECO.2015.05.012MaRDI QIDQ495467zbMATH OpenOpenAlexWikidataFDO

Authors Jian-Li Wang, Jingyuan Li, Xinping Xia, Hongxia Wang

Publication date 14 September 2015

Published in Insurance Mathematics \& Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.insmatheco.2015.05.012

zbMATH Keywords

background riskcross-prudenceprecautionary effortprecautionary savingstochastic improvements

Mathematics Subject Classification ID

Consumer behavior, demand theory (91B42)

Recommendations

• Precautionary saving in the presence of other risks
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Cites work

• A First Course in Optimization Theory
• Consistency of higher order risk preferences
• Degree of downside risk aversion and self-protection
• Optimal prevention and other risks in a two-period model
• Optimal prevention and prudence in a two-period model
• Precautionary saving under many risks
• Prospect Theory: An Analysis of Decision under Risk
• Stochastic Dominance

Cited in

(6)

• Precautionary self-insurance-cum-protection
• Willingness to pay for stochastic improvements of future risk under different risk aversion
• Self-protection with random costs
• Optimal saving and health prevention
• The research on precautionary investment decision-making behaviors based on the view of two-dimension risks
• Investment decision-making on precautionary effort conditional on random income

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