Paramètres
En savoir plus sur le livre
Some consumption opportunities are both indivisible and only valuable in particular tates of nature. The existence of such state-dependent indivisible consumption opportunities influences a person's risk attitudes. In general, people are not risk averse anymore even if utility from divisible consumption is concave. I propose a definition of insurance in the context of state-dependent preferences and investigate the different motives underlying insurance demand. The same reasons that rule out risk aversion turn out to be the basis of a desire to insure. This calls into question the standard approach that bases insurance demand on risk aversion with important implications for policy and research
Achat du livre
Risk attitudes with state-dependent indivisibilities in consumption, Markus Fels
- Langue
- Année de publication
- 2019
- product-detail.submit-box.info.binding
- (rigide)
Modes de paiement
Personne n'a encore évalué .