Optimal Effort on Self-Insurance-Cum-Protection: A New Analysis Using Yaari’s Dual Theory
People take different measures to control risks. The measures that can simultaneously reduce loss probability and loss size are called self-insurance-cum-protection. This paper studies self-insurance-cum-protection using Yaari’s dual theory. We analyze the comparative statics of increased risk avers...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2021-11-01
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| Series: | Mathematics |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2227-7390/9/22/2853 |