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The Law of Large (small) Numbers and the Demand for Insurance

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Eeckhoudt, Louis [UCL] Bauwens, Luc [UCL] Briys, E. Scarmure, P.

(eng) Using an expected utility approach the effect of "risk subdividing" on insurance demand is analyzed. The results indicate that when the total property at risk is scattered only on a small number of pieces (with independent risks), risk retention becomes very attractive relatively to market insurance with a positive loading.

Document type Article de périodique (Journal article) – Article de recherche
Access type Accès restreint
Publication date 1991
Language Anglais
Journal information "Journal of Risk and Insurance" - Vol. 58, no. 3, p. 438-451 (1991)
Peer reviewed yes
Publisher Wiley-Blackwell Publishing, Inc. ((United States) Hoboken)
issn 0022-4367
e-issn 1539-6975
Publication status Publié
Affiliation UCL - ESPO/ECON - Département des sciences économiques
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Bibliographic reference Eeckhoudt, Louis ; Bauwens, Luc ; Briys, E. ; Scarmure, P.. The Law of Large (small) Numbers and the Demand for Insurance. In: Journal of Risk and Insurance, Vol. 58, no. 3, p. 438-451 (1991)
Permanent URL http://hdl.handle.net/2078.1/51344