Facing a Risk: To Insure or Not to Insure—An Analysis with the Constant Relative Risk Aversion Utility Function
The decision to transfer or share an insurable risk is critical for the decision maker’s economy. This paper deals with this decision, starting with the definition of a function that represents the difference between the expected utility of insuring, with or without deductibles, and the expected uti...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2023-02-01
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| Series: | Mathematics |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2227-7390/11/5/1070 |