Substitution between insurance and self-insurance: A property robust to information asymmetry and ambiguity - Archive ouverte HAL Accéder directement au contenu
Article Dans Une Revue Revue d'Economie Politique Année : 2020

Substitution between insurance and self-insurance: A property robust to information asymmetry and ambiguity

Substituabilité entre assurance et auto-assurance : une propriété robuste à l'asymétrie d'information et à l'ambiguïté

, (1) , ,
1

Résumé

We study the effect of asymmetric information about self-insurance effort on the substitution property between insurance and self-insurance. We first examine the effect of the insurer's ability to observe the policyholder's self-insurance effort in a risk context. We then extend the analysis to a unilateral ambiguous context where only the policyholder has an ambiguous knowledge of his risk exposure. We find that information on the level of effort has a strategic dimension neither in the risk context nor in the ambiguous one: policyholders choose identical levels of effort, be the effort observable or not. As a result, the substitutability property between insurance and self-insurance is robust to both asymmetric information and ambiguity. The implications for government and insurers are discussed.
Fichier non déposé

Dates et versions

hal-03679340 , version 1 (26-05-2022)

Identifiants

Citer

M. Brunette, Anne Corcos, S. Couture, F. Pannequin. Substituabilité entre assurance et auto-assurance : une propriété robuste à l'asymétrie d'information et à l'ambiguïté. Revue d'Economie Politique, 2020, 130 (4), pp.615--632. ⟨10.3917/redp.304.0111⟩. ⟨hal-03679340⟩
12 Consultations
0 Téléchargements

Altmetric

Partager

Gmail Facebook Twitter LinkedIn More