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

Author

Listed:
  • Marielle Brunette
  • Anne Corcos
  • Stéphane Couture
  • François Pannequin

Abstract

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.

Suggested Citation

  • Marielle Brunette & Anne Corcos & Stéphane Couture & François Pannequin, 2020. "Substituabilité entre assurance et auto-assurance : une propriété robuste à l’asymétrie d’information et à l’ambiguïté," Revue d'économie politique, Dalloz, vol. 130(4), pages 615-632.
    • Handle: RePEc:cai:repdal:redp_304_0111
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