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Insurance and Behavioral Economics

Improving Decisions in the Most Misunderstood Industry


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This book examines the behavior of individuals at risk and insurance industry decision makers involved in selling, buying and regulation. It compares their actions to those predicted by benchmark models of choice derived from classical economic theory. Where actual choices stray from predictions, the behavior is considered to be anomalous. Howard C. Kunreuther, Mark Pauly and Stacey McMorrow attempt to understand why these anomalies occur, in many cases using insights from behavioral economics. The authors then consider if and how such behavioral anomalies could be modified to improve individual and social welfare. This book describes situations in which both public policy and the insurance industry's collective posture need to change. This may require incentives, rules and institutions to help reduce both inefficient and anomalous behavior, thereby encouraging behavior that will improve individual and social welfare.

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Rok vydania: 2013 ISBN: 9780521608268 Rozmer: 151×228 mm Počet strán: 338 Väzba: brožovaná Jazyk: angličtina

Vydavateľstvo Cambridge University Press

Obchodný názov: Cambridge University Press & AssssmentAdresa: Univesity Printing House, Shaftesbury Road, CB2 8BS CambridgeE-mail: directs@cambridge.org

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