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Titlebook: Making Decisions About Liability And Insurance; A Special Issue of t Colin Camerer,Howard Kunreuther Book 1993 Springer Science+Business Me

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书目名称Making Decisions About Liability And Insurance
副标题A Special Issue of t
编辑Colin Camerer,Howard Kunreuther
视频video
图书封面Titlebook: Making Decisions About Liability And Insurance; A Special Issue of t Colin Camerer,Howard Kunreuther Book 1993 Springer Science+Business Me
描述Two related trends have created novel challenges for managingrisk in the United States. The first trend is a series of dramaticchanges in liability law as tort law has expanded to assign liabilityto defendants for reasons other than negligence. The unpredictabilityof future costs induced by changes in tort law may be partlyresponsible for the second major trend known as the `liability crisis‘- the disappearance of liability protection in markets forparticularly unpredictable risks..This book examines decisions people make about insurance andliability. An understanding of such decision making may help explainwhy the insurance crisis resulted from the new interpretations of tortlaw and what to do about it. The articles cover three kinds ofdecisions: consumer decisions to purchase insurance; insurer decisionsabout coverage they offer; and the decisions of the public about theliability rules they prefer, which are reflected in legislation andregulation. For each of these three kinds of decisions, normativetheories such as expected utility theory can be used as benchmarksagainst which actual decisions are judged..
出版日期Book 1993
关键词calculus; decision making; linear optimization; utility; utility theory
版次1
doihttps://doi.org/10.1007/978-94-011-2192-7
isbn_softcover978-94-010-4971-9
isbn_ebook978-94-011-2192-7
copyrightSpringer Science+Business Media Dordrecht 1993
The information of publication is updating

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https://doi.org/10.1007/978-94-011-2192-7calculus; decision making; linear optimization; utility; utility theory
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,Making Decisions About Liability and Insurance: Editors’ Comments, law. Tort law has expanded to assign liability to defendants for reasons other than negligence. Recent doctrines include joint and several liability, retroactive liability, probabilistic causation, and unlimited duration of liability. Many of these legal changes have added unpredictability about fu
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Framing, Probability Distortions, and Insurance Decisions,ct consumers’ decisions about insurance. Framing manipulations lead the consumers studied here to make hypothetical insurance-purchase choices that violate basic laws of probability and value. Subjects exhibit distortions in their perception of risk and framing effects in evaluating premiums and ben
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Transaction Analysis: A Framework and an Application to Insurance Decisions,urby, 1988) specifies those details. It is applied here to several insurance-related choices appearing in Johnson et al. (1993) and elsewhere. These specific applications suggest alternative explanations for the results of these studies. The approach as a whole provides an alternative perspective re
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Insurance for Low-Probability Hazards: A Bimodal Response to Unlikely Events, for insurance to prevent a fixed loss of $4 at probabilities ranging from .01 to .9. Mean bids were near expected value except at the lowest probability of .01, for which a very bimodal distribution was observed (some subjects bid zero and others bid much more than expected value). A second experim
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