Dynamic insurance decision-making for rare events : the role of emotions

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<dc:creator>Kunreuther, Howard</dc:creator>
<dc:creator>Pauly, Mark V.</dc:creator>
<dc:date>2018-04-02</dc:date>
<dc:description xml:lang="es">Sumario: This paper describes the results of a web-based experiment that uses respondents' stated preferences for purchasing insurance for low-probability, high-consequence events where the probability of a loss and its consequences are stable over time. We contrast the predictions of a model of insurance choice based on expected utility [E(U)] maximisation with those of an alternative behavioural model. The majority of subjects reported insurance purchasing behaviour consistent with expected utility theory; however, a sizeable number of uninsured individuals decided to purchase insurance after learning that they had suffered a loss whereby they responded that their prior choice to be uninsured made them unhappy. In this sense, the study shows that a loss coupled with self-reported emotions linked to the loss is likely to play an important role in convincing some uninsured persons to buy coverage. In contrast, insured individuals who did not suffer a loss rarely dropped coverage</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/164425.do</dc:identifier>
<dc:language>spa</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Toma de decisiones</dc:subject>
<dc:subject xml:lang="es">Comportamiento del consumidor</dc:subject>
<dc:subject xml:lang="es">Emociones</dc:subject>
<dc:subject xml:lang="es">Predicciones</dc:subject>
<dc:subject xml:lang="es">Modelos predictivos</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">Dynamic insurance decision-making for rare events : the role of emotions</dc:title>
<dc:relation xml:lang="es">En: Geneva papers on risk and insurance : issues and practice. - Geneva : The Geneva Association, 1976- = ISSN 1018-5895. - 02/04/2018 Volumen 43 Número 2 - abril 2018 , p. 335-355</dc:relation>
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