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Mesure de Holt et Laury et décisions d’assurance : une même attitude face au risque ?. Une expérience de laboratoire

Author

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  • Anne Corcos
  • François Pannequin
  • Claude Montmarquette

Abstract

Risk attitude is a significant element in decision theory and in particular, in insurance. Based on a theory-driven experiment, this paper examines at a within-subject level whether risk attitudes elicited using the standard Holt and Laury’s (HL) procedure [2002] correlate with those inferred from insurance decisions. Our findings highlight the high consistency of risk attitudes assessed using HL and hedging procedures: for more than two-thirds of the rational subjects, both measures lead to the same risk-attitude assignment. Moreover, risk aversion intensity measured with HL provides a fair estimate of the extent of demand for coverage. JEL : C91, D81.

Suggested Citation

  • Anne Corcos & François Pannequin & Claude Montmarquette, 2019. "Mesure de Holt et Laury et décisions d’assurance : une même attitude face au risque ?. Une expérience de laboratoire," Revue économique, Presses de Sciences-Po, vol. 70(6), pages 1095-1114.
    • Handle: RePEc:cai:recosp:reco_706_1095
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    Keywords

    risk-attitude classification; insurance demand; self-insurance demand; risk-mitigation; multiple price list methods; experimental study;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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