Insurance and Behavioral Economics Kunreuther Howard C. University of Pennsylvania
Insurance and Behavioral Economics Kunreuther Howard C. University of Pennsylvania Insurance is an extraordinarily useful tool to manage risk. But it is broadly misunderstood by consumers,…
Specifikacia Insurance and Behavioral Economics Kunreuther Howard C. University of Pennsylvania
Insurance and Behavioral Economics Kunreuther Howard C. University of Pennsylvania
Insurance is an extraordinarily useful tool to manage risk. But it is broadly misunderstood by consumers, regulators, and insurance executives. When it works as intended, it provides financial protection to individuals and a profitable business model for insurance firms and their investors.
It compares their actions to those predicted by benchmark models of choice derived from classical economic theory. This book looks at the behavior of individuals at risk, insurance industry decision makers, and policy makers at the local, state, and federal level involved in the selling, buying, and regulating of insurance. When actual choices stray from predictions, the behavior is considered to be anomalous.
With considerable sums of money at stake, both in consumer premiums and insurance company payouts, it is important to understand the reasons for anomalous behavior. Howard Kunreuther, Mark