AMBIGUITY AND UNDERWRITER DECISION-PROCESSES

被引：92

作者：

KUNREUTHER, H

MESZAROS, J

HOGARTH, RM

SPRANCA, M

机构：

[1] TEMPLE UNIV,PHILADELPHIA,PA 19122

[2] UNIV CHICAGO,GRAD SCH BUSINESS,CHICAGO,IL 60637

[3] UNIV CALIF BERKELEY,BERKELEY,CA 94720

来源：

JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 1995年 / 26卷 / 03期

基金：

美国国家科学基金会;

关键词：

D O I：

10.1016/0167-2681(94)00041-C

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper provides empirical evidence that risk and ambiguity affect underwriters' decisions on pricing insurance. A field study of primary-insurance underwriters in a random sample of commercial property-and-casualty insurance companies reveals that premiums are significantly higher for risks when there is either ambiguity regarding the probability of a particular event occurring and/or uncertainty about the magnitude of the resulting loss. The paper suggests economic and organizational rationales for this behaviour and offers several explanations as to why insurers in a competitive market can charge higher prices for ambiguous risks which promise to yield excess profits in the long run.

引用

页码：337 / 352

页数：16

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