An Econometric Model Based on the Maxmin Expected Utility Model: An Application to Earthquake Insurance

DOI10.1007/978-3-642-22884-1_5zbMath1418.91237OpenAlexW87831170MaRDI QIDQ4558804

Toshio Fujimi, Hirokazu Tatano

Publication date: 30 November 2018

Published in: Lecture Notes in Economics and Mathematical Systems (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/978-3-642-22884-1_5

zbMATH Keywords

risk aversionrisk premiuminsurance premiumrelative risk aversioneconometric model

Mathematics Subject Classification ID

Applications of statistics to actuarial sciences and financial mathematics (62P05)

Cites Work

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• Maxmin expected utility with non-unique prior
• Recent developments in modeling preferences: Uncertainty and ambiguity
• The impact of incentives upon risky choice experiments
• Probabilistic insurance
• An experimental investigation of the impact of ambiguity on the valuation of self-insurance and self-protection
• Decision making under ignorance: Arguing with yourself
• The effects of financial incentives in experiments: A review and capital-labor-production framework. (With commentaries)
• Risk, Ambiguity, and the Savage Axioms
• Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models
• Prospect Theory: An Analysis of Decision under Risk
• A Definition of Subjective Probability
• Estimating risk attitudes using lotteries: a large sample approach

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