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Choice Determinants of a Smart Contract vs. Ambiguous Expert-Based Insurance: An Experiment

Author

Listed:
  • Giuseppe Attanasi

    (Université Côte d'Azur, France
    GREDEG CNRS)

  • Marta Ballatore

    (GREDEG CNRS
    Université Côte d'Azur, France)

  • Michela Chessa

    (Université Côte d'Azur, France
    GREDEG CNRS)

  • Agnès Festré

    (GREDEG CNRS
    Université Côte d'Azur, France
    The Arctic University of Norway, Tromsø, Norway)

  • Chris Ouangraoua

    (GREDEG CNRS
    Université Côte d'Azur, France)

Abstract

This study proposes an analysis of behavioral factors (attitudes toward risk, ambiguity and reduction of compound lotteries) as choice determinants of a blockchain-based car insurance smart contract (henceforth, BCT-based SC) vs. an ambiguous expert-based one. In a laboratory experiment, we develop a toy model representing such a choice and complement it with a questionnaire in order to collect data concerning participants’ demographics, personality traits, and car use experience. Our results can inform policies aimed at improving the understanding of BCT-based SC in the case of car insurance services. In particular, they advocate for designing ad hoc policies depending on user’s experience with cars.

Suggested Citation

  • Giuseppe Attanasi & Marta Ballatore & Michela Chessa & Agnès Festré & Chris Ouangraoua, 2021. "Choice Determinants of a Smart Contract vs. Ambiguous Expert-Based Insurance: An Experiment," GREDEG Working Papers 2021-41, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    • Handle: RePEc:gre:wpaper:2021-41
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    More about this item

    Keywords

    Laboratory experiments; Blockchain; Smart contracts; Technology adoption; Risk; Ambiguity; Compound lottery;
    All these keywords.

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • 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
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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