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2005-10-07Buch DOI: 10.18452/3471
Low-Probability Insurance Decisions
dc.contributor.authorSchade, Christian
dc.contributor.authorKunreuther, Howard
dc.contributor.authorKaas, Klaus Peter
dc.date.accessioned2017-06-15T21:06:05Z
dc.date.available2017-06-15T21:06:05Z
dc.date.created2005-10-07
dc.date.issued2005-10-07none
dc.identifier.urihttp://edoc.hu-berlin.de/18452/4123
dc.description.abstractOn the basis of a real high stakes insurance experiment with small probabilities of losses, we demonstrate that concern is a more important driver of WTP for insurance than subjective probability estimates when there is ambiguity surrounding the estimate. Concern is still important when probabilities are exactly given. It also helps explaining the low probability insurance puzzle well known from the literature, where a part of individuals pays too much and a part nothing for coverage, a result we are able to replicate. In our experiment, belonging to either the group of threshold persons or to those that pay far too much, is not related to probability judgments but to the degree an individual is concerned in our decision situation.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.relation.ispartofseriesSonderforschungsbereich 373: Quantification and Simulation of Economic Processes - 23, SFB 373 Papers, ISSN:1436-1086
dc.subject.ddc330 Wirtschaft
dc.titleLow-Probability Insurance Decisions
dc.typebook
dc.subtitleThe Role of Concern
dc.identifier.urnurn:nbn:de:kobv:11-10048813
dc.identifier.doihttp://dx.doi.org/10.18452/3471
local.edoc.container-titleSonderforschungsbereich 373: Quantification and Simulation of Economic Processes
local.edoc.container-issn1436-1086
local.edoc.pages25
local.z-edoc.journal-periodikumAusgabe23,
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2002
local.edoc.container-issue23
local.edoc.container-year2002
local.edoc.container-erstkatid2135319-0

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