Insurance and behavioral economics :: improving decisions in the most misunderstood industry /
"This book examines the behavior of individuals at risk, insurance industry decision makers and policy makers involved in the selling, buying, and regulating of insurance"--
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge :
Cambridge University Press,
2012.
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "This book examines the behavior of individuals at risk, insurance industry decision makers and policy makers involved in the selling, buying, and regulating of insurance"-- |
| Beschreibung: | 1 online resource |
| Bibliographie: | Includes bibliographical references and index. |
| ISBN: | 9781139624725 1139624725 9781139050319 1139050311 9781139615426 1139615424 9781139611701 1139611704 |
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| 100 | 1 | |a Kunreuther, Howard. | |
| 245 | 1 | 0 | |a Insurance and behavioral economics : |b improving decisions in the most misunderstood industry / |c Howard Kunreuther, Mark V. Pauly, Stacey McMorrow. |
| 260 | |a Cambridge : |b Cambridge University Press, |c 2012. | ||
| 300 | |a 1 online resource | ||
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| 520 | |a "This book examines the behavior of individuals at risk, insurance industry decision makers and policy makers involved in the selling, buying, and regulating of insurance"-- |c Provided by publisher | ||
| 504 | |a Includes bibliographical references and index. | ||
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Cover; Insurance and Behavioral Economics; Title; Copyright; Contents; Preface; Acknowledgments; Part I Contrasting Ideal and Real Worlds of Insurance; 1 Purposes of This Book; The Roots of Misunderstanding of Insurance; Comparing actual behavior with Benchmark Models; Summary; 2 An Introduction to Insurance in Practice and Theory; Four Examples of Insurance Behavior in Practice; Insurance and the U.S. Economy; The Benchmark Model of Supply; Fundamental Principles of Insurance Supply; The Law of Large Numbers, Insurance Supply, and Competitive Equilibrium; Solving Two Interrelated Problems. | |
| 505 | 8 | |a The Benchmark Model of DemandDemand for Insurance using the Expected Utility Model; Choosing Optimal Deductibles; Summary; 3 Anomalies and Rumors of Anomalies; Insurance in the Media; A Short Tour of Studies on Behavioral Models and Insurance Anomalies; The Elements of Anomaly: A Hypothetical Example; Defining Anomalies; Types of Anomalies; Demand-Side Anomalies; Supply-Side Anomalies; Summary; 4 Behavior Consistent with Benchmark Models; Relevant Assumptions for Examining Behavior; Automobile Collision Coverage; Renters' Insurance; Term-Life Insurance; Summary; Appendix to Chapter 4. | |
| 505 | 8 | |a Estimate of Voluntary Collision Purchase Using Consumer Expenditure Survey DataStep One: Estimate a premium equation using those individuals with financing.; Step Two: Use the model to predict premiums for those purchasing cars without financing.; Step Three: Compare actual and predicted premiums to infer the percentage purchasing collision coverage.; Part II Understanding Consumer and Insurer Behavior; 5 Real-World Complications; Search Costs; Mistakes and Anomalous Behavior; Information Imperfections and Asymmetry; Imperfect Information about Risk. | |
| 505 | 8 | |a Information Asymmetry and Adverse SelectionAdverse Selection in Practice; Information Imperfection and Moral Hazard; Effects of Correlated Risks on Insurance Supply; Role of Reserves in Dealing with Correlated Losses; Equilibrium of Insurance Firms and Capital Markets; Relationship to Mutual Insurance; Implications for Insurer Supply Behavior; Summary; 6 Why People Do or Do Not Demand Insurance; Prospect Theory and the Demand for Insurance; The Value Function; The Weighting Function; Explaining Insurance Anomalies by Myopic Loss Aversion; A Goal-based Model of Choice; Role of Goals and Plans. | |
| 505 | 8 | |a Taxonomy of Insurance-Related GoalsOther Behavioral Explanations; Summary; 7 Demand Anomalies; Seven Anomalies; Failure to Protect against Low-Probability, High-Consequence Events; Purchasing Insurance after a Disaster Occurs; Cancelling Insurance if There Has Been No Loss; Preferences for Policies with Rebates; Preference for Low Deductibles; Unwillingness to Make Small Claims above the Deductible; Status Quo Bias: A Natural Insurance Experiment; Insurance Markets in which Demand Differs from the Benchmark Model; Flight Insurance: Insuring Specific Risks; Rental Car Insurance. | |
| 650 | 0 | |a Risk (Insurance) |0 http://id.loc.gov/authorities/subjects/sh85114196 | |
| 650 | 0 | |a Insurance |x Decision making. | |
| 650 | 0 | |a Consumer behavior. |0 http://id.loc.gov/authorities/subjects/sh87006429 | |
| 650 | 6 | |a Risque (Assurance) | |
| 650 | 6 | |a Assurance |x Prise de décision. | |
| 650 | 6 | |a Consommateurs |x Comportement. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Labor. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Insurance |x Risk Assessment & Management. |2 bisacsh | |
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| 650 | 7 | |a Insurance |x Decision making |2 fast | |
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| 650 | 7 | |a Verhaltensökonomie |2 gnd |0 http://d-nb.info/gnd/7751254-6 | |
| 655 | 0 | |a Electronic books. | |
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| 700 | 1 | |a Pauly, Mark V., |d 1941- |1 https://id.oclc.org/worldcat/entity/E39PBJtrTvDcW4DmXbGV9YTCQq |0 http://id.loc.gov/authorities/names/n80050934 | |
| 700 | 1 | |a McMorrow, Stacey. |0 http://id.loc.gov/authorities/names/no2011103105 | |
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Datensatz im Suchindex
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| _version_ | 1816796906658988033 |
| adam_text | |
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| author | Kunreuther, Howard |
| author2 | Pauly, Mark V., 1941- McMorrow, Stacey |
| author2_role | |
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| author_GND | http://id.loc.gov/authorities/names/n80050934 http://id.loc.gov/authorities/names/no2011103105 |
| author_facet | Kunreuther, Howard Pauly, Mark V., 1941- McMorrow, Stacey |
| author_role | |
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| building | Verbundindex |
| bvnumber | localFWS |
| callnumber-first | H - Social Science |
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| callnumber-raw | HG8054.5 .K858 2012eb |
| callnumber-search | HG8054.5 .K858 2012eb |
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| callnumber-subject | HG - Finance |
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| collection | ZDB-4-EBU |
| contents | Cover; Insurance and Behavioral Economics; Title; Copyright; Contents; Preface; Acknowledgments; Part I Contrasting Ideal and Real Worlds of Insurance; 1 Purposes of This Book; The Roots of Misunderstanding of Insurance; Comparing actual behavior with Benchmark Models; Summary; 2 An Introduction to Insurance in Practice and Theory; Four Examples of Insurance Behavior in Practice; Insurance and the U.S. Economy; The Benchmark Model of Supply; Fundamental Principles of Insurance Supply; The Law of Large Numbers, Insurance Supply, and Competitive Equilibrium; Solving Two Interrelated Problems. The Benchmark Model of DemandDemand for Insurance using the Expected Utility Model; Choosing Optimal Deductibles; Summary; 3 Anomalies and Rumors of Anomalies; Insurance in the Media; A Short Tour of Studies on Behavioral Models and Insurance Anomalies; The Elements of Anomaly: A Hypothetical Example; Defining Anomalies; Types of Anomalies; Demand-Side Anomalies; Supply-Side Anomalies; Summary; 4 Behavior Consistent with Benchmark Models; Relevant Assumptions for Examining Behavior; Automobile Collision Coverage; Renters' Insurance; Term-Life Insurance; Summary; Appendix to Chapter 4. Estimate of Voluntary Collision Purchase Using Consumer Expenditure Survey DataStep One: Estimate a premium equation using those individuals with financing.; Step Two: Use the model to predict premiums for those purchasing cars without financing.; Step Three: Compare actual and predicted premiums to infer the percentage purchasing collision coverage.; Part II Understanding Consumer and Insurer Behavior; 5 Real-World Complications; Search Costs; Mistakes and Anomalous Behavior; Information Imperfections and Asymmetry; Imperfect Information about Risk. Information Asymmetry and Adverse SelectionAdverse Selection in Practice; Information Imperfection and Moral Hazard; Effects of Correlated Risks on Insurance Supply; Role of Reserves in Dealing with Correlated Losses; Equilibrium of Insurance Firms and Capital Markets; Relationship to Mutual Insurance; Implications for Insurer Supply Behavior; Summary; 6 Why People Do or Do Not Demand Insurance; Prospect Theory and the Demand for Insurance; The Value Function; The Weighting Function; Explaining Insurance Anomalies by Myopic Loss Aversion; A Goal-based Model of Choice; Role of Goals and Plans. Taxonomy of Insurance-Related GoalsOther Behavioral Explanations; Summary; 7 Demand Anomalies; Seven Anomalies; Failure to Protect against Low-Probability, High-Consequence Events; Purchasing Insurance after a Disaster Occurs; Cancelling Insurance if There Has Been No Loss; Preferences for Policies with Rebates; Preference for Low Deductibles; Unwillingness to Make Small Claims above the Deductible; Status Quo Bias: A Natural Insurance Experiment; Insurance Markets in which Demand Differs from the Benchmark Model; Flight Insurance: Insuring Specific Risks; Rental Car Insurance. |
| ctrlnum | (OCoLC)821624002 |
| dewey-full | 368 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 368 - Insurance |
| dewey-raw | 368 |
| dewey-search | 368 |
| dewey-sort | 3368 |
| dewey-tens | 360 - Social problems and services; associations |
| discipline | Rechtswissenschaft Wirtschaftswissenschaften |
| format | Electronic eBook |
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| illustrated | Not Illustrated |
| indexdate | 2024-11-26T14:49:07Z |
| institution | BVB |
| isbn | 9781139624725 1139624725 9781139050319 1139050311 9781139615426 1139615424 9781139611701 1139611704 |
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| spelling | Kunreuther, Howard. Insurance and behavioral economics : improving decisions in the most misunderstood industry / Howard Kunreuther, Mark V. Pauly, Stacey McMorrow. Cambridge : Cambridge University Press, 2012. 1 online resource text txt rdacontent computer c rdamedia online resource cr rdacarrier "This book examines the behavior of individuals at risk, insurance industry decision makers and policy makers involved in the selling, buying, and regulating of insurance"-- Provided by publisher Includes bibliographical references and index. Print version record. Cover; Insurance and Behavioral Economics; Title; Copyright; Contents; Preface; Acknowledgments; Part I Contrasting Ideal and Real Worlds of Insurance; 1 Purposes of This Book; The Roots of Misunderstanding of Insurance; Comparing actual behavior with Benchmark Models; Summary; 2 An Introduction to Insurance in Practice and Theory; Four Examples of Insurance Behavior in Practice; Insurance and the U.S. Economy; The Benchmark Model of Supply; Fundamental Principles of Insurance Supply; The Law of Large Numbers, Insurance Supply, and Competitive Equilibrium; Solving Two Interrelated Problems. The Benchmark Model of DemandDemand for Insurance using the Expected Utility Model; Choosing Optimal Deductibles; Summary; 3 Anomalies and Rumors of Anomalies; Insurance in the Media; A Short Tour of Studies on Behavioral Models and Insurance Anomalies; The Elements of Anomaly: A Hypothetical Example; Defining Anomalies; Types of Anomalies; Demand-Side Anomalies; Supply-Side Anomalies; Summary; 4 Behavior Consistent with Benchmark Models; Relevant Assumptions for Examining Behavior; Automobile Collision Coverage; Renters' Insurance; Term-Life Insurance; Summary; Appendix to Chapter 4. Estimate of Voluntary Collision Purchase Using Consumer Expenditure Survey DataStep One: Estimate a premium equation using those individuals with financing.; Step Two: Use the model to predict premiums for those purchasing cars without financing.; Step Three: Compare actual and predicted premiums to infer the percentage purchasing collision coverage.; Part II Understanding Consumer and Insurer Behavior; 5 Real-World Complications; Search Costs; Mistakes and Anomalous Behavior; Information Imperfections and Asymmetry; Imperfect Information about Risk. Information Asymmetry and Adverse SelectionAdverse Selection in Practice; Information Imperfection and Moral Hazard; Effects of Correlated Risks on Insurance Supply; Role of Reserves in Dealing with Correlated Losses; Equilibrium of Insurance Firms and Capital Markets; Relationship to Mutual Insurance; Implications for Insurer Supply Behavior; Summary; 6 Why People Do or Do Not Demand Insurance; Prospect Theory and the Demand for Insurance; The Value Function; The Weighting Function; Explaining Insurance Anomalies by Myopic Loss Aversion; A Goal-based Model of Choice; Role of Goals and Plans. Taxonomy of Insurance-Related GoalsOther Behavioral Explanations; Summary; 7 Demand Anomalies; Seven Anomalies; Failure to Protect against Low-Probability, High-Consequence Events; Purchasing Insurance after a Disaster Occurs; Cancelling Insurance if There Has Been No Loss; Preferences for Policies with Rebates; Preference for Low Deductibles; Unwillingness to Make Small Claims above the Deductible; Status Quo Bias: A Natural Insurance Experiment; Insurance Markets in which Demand Differs from the Benchmark Model; Flight Insurance: Insuring Specific Risks; Rental Car Insurance. Risk (Insurance) http://id.loc.gov/authorities/subjects/sh85114196 Insurance Decision making. Consumer behavior. http://id.loc.gov/authorities/subjects/sh87006429 Risque (Assurance) Assurance Prise de décision. Consommateurs Comportement. BUSINESS & ECONOMICS Labor. bisacsh BUSINESS & ECONOMICS Insurance Risk Assessment & Management. bisacsh Consumer behavior fast Insurance Decision making fast Risk (Insurance) fast Versicherungswirtschaft gnd Verhaltensökonomie gnd http://d-nb.info/gnd/7751254-6 Electronic books. Pauly, Mark V., 1941- https://id.oclc.org/worldcat/entity/E39PBJtrTvDcW4DmXbGV9YTCQq http://id.loc.gov/authorities/names/n80050934 McMorrow, Stacey. http://id.loc.gov/authorities/names/no2011103105 has work: Insurance and Behavioral Economics (Text) https://id.oclc.org/worldcat/entity/E39PCFJhqJXFcDxCxWRmtPcFJC https://id.oclc.org/worldcat/ontology/hasWork Print version: Kunreuther, Howard. Insurance and behavioral economics. Cambridge : Cambridge University Press, 2012 9780521845724 (DLC) 2012006486 (OCoLC)779529972 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=508922 Volltext |
| spellingShingle | Kunreuther, Howard Insurance and behavioral economics : improving decisions in the most misunderstood industry / Cover; Insurance and Behavioral Economics; Title; Copyright; Contents; Preface; Acknowledgments; Part I Contrasting Ideal and Real Worlds of Insurance; 1 Purposes of This Book; The Roots of Misunderstanding of Insurance; Comparing actual behavior with Benchmark Models; Summary; 2 An Introduction to Insurance in Practice and Theory; Four Examples of Insurance Behavior in Practice; Insurance and the U.S. Economy; The Benchmark Model of Supply; Fundamental Principles of Insurance Supply; The Law of Large Numbers, Insurance Supply, and Competitive Equilibrium; Solving Two Interrelated Problems. The Benchmark Model of DemandDemand for Insurance using the Expected Utility Model; Choosing Optimal Deductibles; Summary; 3 Anomalies and Rumors of Anomalies; Insurance in the Media; A Short Tour of Studies on Behavioral Models and Insurance Anomalies; The Elements of Anomaly: A Hypothetical Example; Defining Anomalies; Types of Anomalies; Demand-Side Anomalies; Supply-Side Anomalies; Summary; 4 Behavior Consistent with Benchmark Models; Relevant Assumptions for Examining Behavior; Automobile Collision Coverage; Renters' Insurance; Term-Life Insurance; Summary; Appendix to Chapter 4. Estimate of Voluntary Collision Purchase Using Consumer Expenditure Survey DataStep One: Estimate a premium equation using those individuals with financing.; Step Two: Use the model to predict premiums for those purchasing cars without financing.; Step Three: Compare actual and predicted premiums to infer the percentage purchasing collision coverage.; Part II Understanding Consumer and Insurer Behavior; 5 Real-World Complications; Search Costs; Mistakes and Anomalous Behavior; Information Imperfections and Asymmetry; Imperfect Information about Risk. Information Asymmetry and Adverse SelectionAdverse Selection in Practice; Information Imperfection and Moral Hazard; Effects of Correlated Risks on Insurance Supply; Role of Reserves in Dealing with Correlated Losses; Equilibrium of Insurance Firms and Capital Markets; Relationship to Mutual Insurance; Implications for Insurer Supply Behavior; Summary; 6 Why People Do or Do Not Demand Insurance; Prospect Theory and the Demand for Insurance; The Value Function; The Weighting Function; Explaining Insurance Anomalies by Myopic Loss Aversion; A Goal-based Model of Choice; Role of Goals and Plans. Taxonomy of Insurance-Related GoalsOther Behavioral Explanations; Summary; 7 Demand Anomalies; Seven Anomalies; Failure to Protect against Low-Probability, High-Consequence Events; Purchasing Insurance after a Disaster Occurs; Cancelling Insurance if There Has Been No Loss; Preferences for Policies with Rebates; Preference for Low Deductibles; Unwillingness to Make Small Claims above the Deductible; Status Quo Bias: A Natural Insurance Experiment; Insurance Markets in which Demand Differs from the Benchmark Model; Flight Insurance: Insuring Specific Risks; Rental Car Insurance. Risk (Insurance) http://id.loc.gov/authorities/subjects/sh85114196 Insurance Decision making. Consumer behavior. http://id.loc.gov/authorities/subjects/sh87006429 Risque (Assurance) Assurance Prise de décision. Consommateurs Comportement. BUSINESS & ECONOMICS Labor. bisacsh BUSINESS & ECONOMICS Insurance Risk Assessment & Management. bisacsh Consumer behavior fast Insurance Decision making fast Risk (Insurance) fast Versicherungswirtschaft gnd Verhaltensökonomie gnd http://d-nb.info/gnd/7751254-6 |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85114196 http://id.loc.gov/authorities/subjects/sh87006429 http://d-nb.info/gnd/7751254-6 |
| title | Insurance and behavioral economics : improving decisions in the most misunderstood industry / |
| title_auth | Insurance and behavioral economics : improving decisions in the most misunderstood industry / |
| title_exact_search | Insurance and behavioral economics : improving decisions in the most misunderstood industry / |
| title_full | Insurance and behavioral economics : improving decisions in the most misunderstood industry / Howard Kunreuther, Mark V. Pauly, Stacey McMorrow. |
| title_fullStr | Insurance and behavioral economics : improving decisions in the most misunderstood industry / Howard Kunreuther, Mark V. Pauly, Stacey McMorrow. |
| title_full_unstemmed | Insurance and behavioral economics : improving decisions in the most misunderstood industry / Howard Kunreuther, Mark V. Pauly, Stacey McMorrow. |
| title_short | Insurance and behavioral economics : |
| title_sort | insurance and behavioral economics improving decisions in the most misunderstood industry |
| title_sub | improving decisions in the most misunderstood industry / |
| topic | Risk (Insurance) http://id.loc.gov/authorities/subjects/sh85114196 Insurance Decision making. Consumer behavior. http://id.loc.gov/authorities/subjects/sh87006429 Risque (Assurance) Assurance Prise de décision. Consommateurs Comportement. BUSINESS & ECONOMICS Labor. bisacsh BUSINESS & ECONOMICS Insurance Risk Assessment & Management. bisacsh Consumer behavior fast Insurance Decision making fast Risk (Insurance) fast Versicherungswirtschaft gnd Verhaltensökonomie gnd http://d-nb.info/gnd/7751254-6 |
| topic_facet | Risk (Insurance) Insurance Decision making. Consumer behavior. Risque (Assurance) Assurance Prise de décision. Consommateurs Comportement. BUSINESS & ECONOMICS Labor. BUSINESS & ECONOMICS Insurance Risk Assessment & Management. Consumer behavior Insurance Decision making Versicherungswirtschaft Verhaltensökonomie Electronic books. |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=508922 |
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