interactions between demand for self-insurance and for market insurance

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ID: 152399
2012
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Abstract
This paper considers interactions between demand for market insurance and the level of self-insurance. The concept of self-insurance as an alternative for market insurance was presented by Ehrlich and Becker. Their original model accounts for only two states of the world and suggests that self-insurance and market insurance are substitute goods. This classical view does not extend to the case of many states of the world. In this paper a more general model is described, as under information asymmetry market insurance may be complementary to self-insurance or a substitute for it. Conditions under which market insurance and self-insurance are complements or substitutes were stated and discussed. The paper also provides economic interpretation of these conditions.
Reference Key
dudziski2012contemporaryinteractions Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors ;Piotr Dudziński
Journal journal of toxicology and environmental health part a
Year 2012
DOI
DOI not found
URL
http://www.wspolczesnagospodarka.pl/?p=538
Keywords
riskeconomics as a science

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