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  1. 1 Piotr D.

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Efekt wzrostu awersji do ryzyka na popyt na samoubezpieczenie w modelu dynamicznym

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Piotr D.
Współczesna Gospodarka
|
2012
|
vol. 3
|
issue 2
35-47
EN
This work shows that in a two-period framework increase in risk-aversion is not a sufficient condition to invest more in self-insurance, as it is in one-period setting (Dionne and Eeckhoudt). We prove that other factors important for decision-making exist. Relationship between size of loss and future and present income is crucial in this problem. We consider two cases – when an effort to prevent risk precedes its effect and when it is simultaneous. We show that those cases are mathematically and economically different.
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