The impact of regret on the demand for insurance

被引：118

作者：

Braun, M ^{[1
]}

Muermann, A

机构：

[1] Univ Penn, Wharton Sch, Dept Operat & Informat Management, Philadelphia, PA 19104 USA

[2] Univ Penn, Wharton Sch, Dept Insurance & Risk Management, Philadelphia, PA 19104 USA

来源：

JOURNAL OF RISK AND INSURANCE | 2004年 / 71卷 / 04期

关键词：

D O I：

10.1111/j.0022-4367.2004.00110.x

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We examine optimal insurance purchase decisions of individuals that exhibit behavior consistent with Regret Theory. Our model incorporates a utility function that assigns a disutility to outcomes that are ex post suboptimal, and predicts that individuals with regret-theoretical preferences adjust away from the extremes of full insurance and no insurance coverage. This prediction holds for both coinsurance and deductible contracts, and can explain the frequently observed preferences for low deductibles in markets for personal insurance.

引用

页码：737 / 767

页数：31

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