Arrow's theorem on the optimality of deductibles: A stochastic dominance approach

Christian Gollier1, Harris Schlesinger2
1GREMAQ and IDEI, University of Toulouse, Toulouse, France
2Department of Finance, University of Alabama, Tuscaloosa, USA

Tóm tắt

We provide a new proof for the optimality of deductible insurance that does not depend on the expected-utility hypothesis. Our model uses only first- and second-degree stochastic dominance arguments.

Từ khóa


Tài liệu tham khảo

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