Versicherungsnachfrage und Ausfallerwartung

Ulrich Schmidt, Horst Zank

Research output: Contribution to journalArticlepeer-review

Abstract

Recently, several undesirable feature of classical risk measure like variance or value-at-risk have been mentioned in the literature. Due to this drawbacks, alternative risk measures as the lower partial moments receive increasing attention. The present paper analyzes the lower partial moments with respect to their compatibility to expected utility theory as well as their psychological plausibility. With respect to the latter point, shortfall expectation seems to be more realistic than the other lower partial moments. We proceed by analyzing demand for coinsurance in the context of risk measurement by shortfall expectation. © 2008 Springer-Verlag.
Original languageGerman
Pages (from-to)21-32
Number of pages11
JournalZeitschrift fur die gesamte Versicherungswissenschaft
Volume97
Issue number1
DOIs
Publication statusPublished - Mar 2008

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