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The Demand for insurance with an upper limit on coverage

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1001 ‎$0‎MAPA20080189273‎$a‎Cummins, J. David
24514‎$a‎The Demand for insurance with an upper limit on coverage‎$c‎J. David Cummins, Olivier Mahul
5208 ‎$a‎The demand for insurance is examined when the indemnity schedule is subject to an upper limit. The optimal contract is shown to display full insurance above a deductible up to the cap. Some result derived in the standard model with no upper limit on coverage turn out to be invalid; the optimal deductible of an actuarially fair policy is positive and insurance may be a normal good under decreasing absolute risk aversion. An increase in the upper limit would induce the policyholders with constant absolute risk aversion to reduce his or her optimal deductible and therefore this would increase the demand for insurance against small losses
65011‎$0‎MAPA20080553630‎$a‎Coberturas
65001‎$0‎MAPA20080584290‎$a‎Contrato de seguro
65001‎$0‎MAPA20080602437‎$a‎Matemática del seguro
65011‎$0‎MAPA20080584580‎$a‎Demanda de seguros
7001 ‎$0‎MAPA20080106980‎$a‎Mahul, Olivier
7404 ‎$a‎The Journal of risk and insurance
7730 ‎$w‎MAP20077000727‎$t‎The Journal of risk and insurance‎$d‎Orlando‎$g‎Volume 71, number 1, March 2004 ; p. 213-251