Template-Type: ReDIF-Paper 1.0
Title: Optimal Insurance: A Nonexpected Utility Analysis
Author-Name: Edi Karni

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Keywords: Nonexpected utility, expected utility with rank-dependent probabilities, weighted utility, optimal insurance.
Abstract: This paper reviews some of the recent developments in the theory
 of decision making under risk and apply them to selected problems in 
 the theory of optimal insurance, namely, the choice of optimal 
 insurance coverage, and the comparative statics analysis of the optimal
 insurance coverage with respect to the consumer's risk aversion. The
 analysis highlights the methodology of local expected utility analysis. 
Series: Sonderforschungsbereich 303, University of Bonn, Germany

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Creation-Date: 1990-05
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Handle: RePEc:bon:bonsfa:288