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Revisiting the Demand for Insurance

保險需求的再探討

摘要


本篇論文首先推導保險的Marsharllian需求與Hicksian需求,並利用Slutsky定理重新檢視保險市場中的所得效果與替代效果,論文進一步討論本文在理論與實證上可能的應用,最後我們提供應用的實例,並說明此一實例在責任保險上可能的意涵。

並列摘要


This paper first derives the Hicksian demand for insurance and further applies the famous Slutsky Equation to link the Marshallian and Hicksian demands for insurance. It shows that the Slutsky Equation of insurance can provide additional explanations for insurance markets. The connection between the income effect and the substitution effect in insurance markets is discussed. We further demonstrate how to apply our results both in the theory and empirical studies. We also provide some implications of our results in liability insurance market.

參考文獻


Briys, E.,Dionne, G.,Eeckhoudt, L.(1989).More on Insurance as a Giffen Good.Journal of Risk and Uncertainty.2,420-425.
Brown, M. J.,Kim, K.(1993).An International Analysis of Life Insurance Demand.Journal of Risk and Insurance.60,616-634.
Cleeton, D. L.,Zellner, B. B.(1993).Income, Risk Aversion, and the Demand for Insurance.Southern Economic Journal.60,146-156.
Dionne, G.,Eeckhoudt, L.(1984).Insurance and Saving: Some Further Results.Insurance: Mathematics and Economics.3,101-110.
Ehrlich, J.,Becker, G.(1972).Market Insurance, Self Insurance and Self Protection.Journal of Political Economics.80,623-648.

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