Self-protection and insurance with interdependencies

被引：21
|
作者：
Muermann, Alexander [1 ]
Kunreuther, Howard [2 ]
机构：
[1] Vienna Univ Econ & Business Adm, Inst Risk Management & Insurance, A-1190 Vienna, Austria
[2] Univ Penn, Wharton Sch, Philadelphia, PA 19104 USA
来源：
JOURNAL OF RISK AND UNCERTAINTY | 2008年 / 36卷 / 02期
基金：
美国国家科学基金会;
关键词：
insurance; self-protection; interdependencies; externality;
D O I：
10.1007/s11166-008-9033-1
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We study optimal investment in self-protection of insured individuals when they face interdependencies in the form of potential contamination from others. If individuals cannot coordinate their actions, then the positive externality of investing in self-protection implies that, in equilibrium, individuals underinvest in self-protection. Limiting insurance coverage through deductibles or selling "at-fault" insurance can partially internalize this externality and thereby improve individual and social welfare.
引用
收藏
页码：103 / 123
页数：21
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