A fair procedure in insurance

Vito Fragnelli; Maria Erminia Marina

doi:10.1016/S0167-6687(03)00145-8

A fair procedure in insurance

Vito Fragnelli
, Maria Erminia Marina

Risultato della ricerca: Contributo su rivista › Articolo in rivista › peer review

Abstract

We consider a random variable R, representing a risk that has to be insured by n companies and which a premium φ is assigned to. How should they share the risk and the premium in order to be better off? Under suitable hypotheses, there exists an optimal decomposition of the risk. According to this division, we develop a procedure that results in an allocation of (φ,R) that is efficient, individually rational and envy-free.

Lingua originale	Inglese
pagine (da-a)	75-85
Numero di pagine	11
Rivista	Insurance: Mathematics and Economics
Volume	33
Numero di pubblicazione	1
DOI	https://doi.org/10.1016/S0167-6687(03)00145-8
Stato di pubblicazione	Pubblicato - 8 ago 2003
Pubblicato esternamente	Sì

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10.1016/S0167-6687(03)00145-8

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abstract = "We consider a random variable R, representing a risk that has to be insured by n companies and which a premium φ is assigned to. How should they share the risk and the premium in order to be better off? Under suitable hypotheses, there exists an optimal decomposition of the risk. According to this division, we develop a procedure that results in an allocation of (φ,R) that is efficient, individually rational and envy-free.",

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KW - Envy-freeness

KW - Fair division

KW - Optimal cooperation

KW - Premium calculation

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A fair procedure in insurance

Abstract

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