A theory of insurance and gambling : replacing risk preferences with quid pro quo /

"This book holds that the demand for insurance is best understood, not by focusing on risk preferences, but by focusing on the additional income, the states of the world that trigger the income transfer from the insurer, and the value of income (and consumption) in those states. It is unlikely...

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Bibliographic Details
Main Author:	Nyman, John A. (Author)
Format:	eBook
Language:	English
Published:	New York, NY : Oxford University Press, [2024]
Subjects:	Insurance. Risk. Assurance. Risque. insurance. Risk Assessment & Management. BUSINESS & ECONOMICS. Microeconomics. Economics. Theory. Insurance Risk Insurance & actuarial studies. Society. Electronic books.
Online Access:	Connect to the full text of this electronic book

Table of Contents:

Introduction
Demand for Insurance: Preference for Certainty or Desire for Additional Income
Demand for Gambling: Preference for Risk or Desire for Work-free Income
Insurance and Gambling Supply
Evidence on Risk Preferences and the Role of Prospect Theory in Insurance
The Role of Loss Aversion in Insurance
Empirical Evidence for Gambling
Price and Income Effects in Insurance
The Insurance-purchasing Gambler
Conclusions.