A theory of insurance and gambling : replacing risk preferences with quid pro quo / John A. Nyman.

"This book holds that the demand for insurance is best understood, not by focusing on risk preferences, but by focusing on the additional income, the states of the world that trigger the income transfer from the insurer, and the value of income (and consumption) in those states. It is unlikely...

Full description

Saved in:
Bibliographic Details
Main Author: Nyman, John A. (Author)
Format: eBook
Language:English
Published: New York, NY : Oxford University Press, [2024]
Subjects:
Online Access:Click for online access

MARC

LEADER 00000cam a2200000 i 4500
001 on1401909637
003 OCoLC
005 20240909213021.0
006 m o d
007 cr cnu---unuuu
008 231004s2024 nyua ob 001 0 eng
010 |a  2023045396 
040 |a DLC  |b eng  |e rda  |c DLC  |d OCLCO  |d OCLCF  |d STBDS  |d EBLCP  |d OCLCO  |d OCLCQ  |d YDX  |d OCLCQ  |d N$T 
020 |a 9780197687956  |q electronic book 
020 |a 0197687954  |q electronic book 
020 |a 0197687946  |q electronic book 
020 |a 9780197687932  |q electronic book 
020 |a 0197687938  |q electronic book 
020 |a 9780197687949  |q (electronic bk.) 
020 |z 9780197687925  |q hardcover 
035 |a (OCoLC)1401909637 
042 |a pcc 
050 0 4 |a HG8051  |b .N96 2024 
049 |a HCDD 
100 1 |a Nyman, John A.,  |e author. 
245 1 2 |a A theory of insurance and gambling :  |b replacing risk preferences with quid pro quo /  |c John A. Nyman. 
264 1 |a New York, NY :  |b Oxford University Press,  |c [2024] 
300 |a 1 online resource (x, 262 pages) :  |b illustrations 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
504 |a Includes bibliographical references and index. 
505 0 |a Introduction -- Demand for Insurance: Preference for Certainty or Desire for Additional Income -- Demand for Gambling: Preference for Risk or Desire for Work-free Income -- Insurance and Gambling Supply -- Evidence on Risk Preferences and the Role of Prospect Theory in Insurance -- The Role of Loss Aversion in Insurance -- Empirical Evidence for Gambling -- Price and Income Effects in Insurance -- The Insurance-purchasing Gambler -- Conclusions. 
520 |a "This book holds that the demand for insurance is best understood, not by focusing on risk preferences, but by focusing on the additional income, the states of the world that trigger the income transfer from the insurer, and the value of income (and consumption) in those states. It is unlikely that demand can be understood if the analyst limits the gain from insurance to coverage of the uninsured loss alone. It is also unlikely that the demand can be understood if the analyst limits the analysis to a movement along a static "risk averse" utility or value function, rather than acknowledging that a shift of this function, and thus in the utility or value of additional income, often coincides with the occurrence of the event that triggers the payout"--  |c Provided by publisher. 
588 |a Description based on online resource; title from digital title page (viewed on January 26, 2024). 
650 0 |a Insurance. 
650 0 |a Risk. 
650 7 |a insurance.  |2 aat 
650 7 |a Insurance  |2 fast 
650 7 |a Risk  |2 fast 
650 7 |a Insurance & actuarial studies.  |2 thema 
650 7 |a Society.  |2 ukslc 
776 0 8 |i Print version:  |a Nyman, John A.  |t Theory of insurance and gambling  |d New York, NY : Oxford University Press, [2024]  |z 9780197687925  |w (DLC) 2023045395 
856 4 0 |u https://holycross.idm.oclc.org/login?auth=cas&url=https://academic.oup.com/book/55743  |y Click for online access 
903 |a OUP-SOEBA 
994 |a 92  |b HCD