Self-protection with random costs

We study the consequences of introducing random costs (as opposed to certain costs) on the propensity to implement self-protection actions, i.e. actions reducing the probability of a loss. Our analysis is performed in four standard self-protection frameworks: (1) the one-period model in which the co...

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Veröffentlicht in:	Insurance, mathematics & economics mathematics & economics, 2021-05, Vol.98, p.63-67
Hauptverfasser:	Crainich, David, Menegatti, Mario
Format:	Artikel
Sprache:	eng
Schlagworte:	Business administration Costs Humanities and Social Sciences Mathematical analysis Prevention Probability Prudence Random costs of self-protection Random variables Risk aversion Self-protection Selfprotection Studies Wealth
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