Regret, rejoicing, and mixed insurance

Yoichiro Fujii, Mahito Okura, Yusuke Osaki*

*この研究の対応する著者

研究成果: Article査読

7 被引用数 (Scopus)

抄録

This study examines how regret and rejoicing affect mixed insurance choice and demand. In contrast to expected utility theory, regret and rejoicing may explain why some individuals prefer to hold mixed insurance rather than term insurance. In this study, we derive the conditions under which an individual prefers to hold mixed insurance rather than term insurance. We also study demand for mixed insurance and specify the factors that influence the demand motive. The demand motive is determined by the risk effect and the rejoicing effect, when the rejoicing effect dominates the risk effect, under-insurance is optimal, and vice versa.

本文言語English
ページ(範囲)126-132
ページ数7
ジャーナルEconomic Modelling
58
DOI
出版ステータスPublished - 2016 11月
外部発表はい

ASJC Scopus subject areas

  • 経済学、計量経済学

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