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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
Economics of Natural Catastrophe Risk Insurance
677
rebate. Insurance policies with rebates may satisfy a person’s need to collect something
on her insurance policy when she has not suffered a loss.
11.4.3 A Goal-based Model of Choice
Both expected utility theory and prospect theory assume that financial considerations
determine a person’s decisions regarding insurance purchase. But people often construct
or select insurance plans designed to achieve multiple goals, not all of which are purely
financial (Krantz and Kunreuther, 2007). The relative importance of these goals varies
with the decision maker as well as the context in which the decision ...
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Publisher Resources

ISBN: 9780444536853