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More on Insurance As a Giffen Good

Author

Listed:
  • Briys, E.
  • Dionne, G.
  • Eeckhoudt, L.

Abstract

In This Paper, We Generalize Hoy and Robson (1981) Analysis and We Provide a Necessary and Sufficient Condition for Insurance Not to Be Giffen. the Condition Gives a Bound for the Variation of the Absolute Risk Avesion Which Pemits the Wealth Effect to Be Always Dominated by the Subsitution Effect.

Suggested Citation

  • Briys, E. & Dionne, G. & Eeckhoudt, L., 1988. "More on Insurance As a Giffen Good," Cahiers de recherche 8813, Universite de Montreal, Departement de sciences economiques.
    • Handle: RePEc:mtl:montde:8813
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    Cited by:

    1. Alhassan, Abdul Latif & Biekpe, Nicholas, 2016. "Determinants of life insurance consumption in Africa," Research in International Business and Finance, Elsevier, vol. 37(C), pages 17-27.
    2. Justina Klimaviciute & Pierre Pestieau, 2018. "Long-term care social insurance: How to avoid big losses?," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 25(1), pages 99-139, February.
    3. Giovanni Millo & Gaetano Carmeci, 2011. "Non-life insurance consumption in Italy: a sub-regional panel data analysis," Journal of Geographical Systems, Springer, vol. 13(3), pages 273-298, September.
    4. Cicchetti, Charles J & Dubin, Jeffrey A, 1994. "A Microeconometric Analysis of Risk Aversion and the Decision to Self-Insure," Journal of Political Economy, University of Chicago Press, vol. 102(1), pages 169-186, February.
    5. Loubergé, Henri & Watt, Richard, 2008. "Insuring a risky investment project," Insurance: Mathematics and Economics, Elsevier, vol. 42(1), pages 301-310, February.
    6. Dionne, Georges & Harrington, Scott, 2017. "Insurance and Insurance Markets," Working Papers 17-2, HEC Montreal, Canada Research Chair in Risk Management.
    7. Chu-Shiu Li & Chwen-Chi Liu & Chen-Sheng Yang, 2010. "Tax Deductions for Losses and Equilibrium in Competitive Insurance Markets," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 38(1), pages 51-63, March.
    8. Henri Loubergé, 1998. "Risk and Insurance Economics 25 Years After," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 23(4), pages 540-567, October.
    9. Subir Sen, 2008. "An Analysis Of Life Insurance Demand Determinants For Selected Asian Economies And India," Working Papers 2008-036, Madras School of Economics,Chennai,India.
    10. Kangoh Lee, 2005. "Wealth Effects on Self-Insurance and Self-Protection against Monetary and Nonmonetary Losses," The Geneva Papers on Risk and Insurance Theory, Springer;International Association for the Study of Insurance Economics (The Geneva Association), vol. 30(2), pages 147-159, December.
    11. Richard Watt & Henri Loubergé, 2005. "On the Demand for Budget Constrained Insurance," FAME Research Paper Series rp137, International Center for Financial Asset Management and Engineering.
    12. Zhou, Chunyang & Wu, Wenfeng & Wu, Chongfeng, 2010. "Optimal insurance in the presence of insurer's loss limit," Insurance: Mathematics and Economics, Elsevier, vol. 46(2), pages 300-307, April.
    13. Hun Seog, S. & Hong, Jimin, 2022. "Market insurance and endogenous saving with multiple loss states," The North American Journal of Economics and Finance, Elsevier, vol. 61(C).
    14. Tzeng, Larry Y. & Wang, Jen-Hung, 2004. "Increase in risk and saving behavior," Journal of Economics and Business, Elsevier, vol. 56(5), pages 405-414.
    15. Richard Dusansky & Çağatay Koç, 2010. "Implications of the Interaction Between Insurance Choice and Medical Care Demand," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(1), pages 129-144, March.
    16. Hong Liang, 2020. "On Three Standard Results in the Theory of Insurance Demand," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 14(1), pages 1-10, January.
    17. Moore, Kristen S. & Young, Virginia R., 2006. "Optimal insurance in a continuous-time model," Insurance: Mathematics and Economics, Elsevier, vol. 39(1), pages 47-68, August.
    18. Louis Eeckhoudt & Neil Doherty, 1995. "Espérance d'utilité et théorie duale de Yaari : implication pour la demande d'assurance," Revue Économique, Programme National Persée, vol. 46(3), pages 933-938.
    19. Aase, Knut K., 2007. "Wealth Effects on Demand for Insurance," Discussion Papers 2007/6, Norwegian School of Economics, Department of Business and Management Science.
    20. Constantin Anghelache & Madalina Gabriela Anghel & Marius Popovici, 2015. "Comparative Analysis In Co-Insurance Model," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 10-12, December.
    21. Subir Sen & S Madheswaran, 2013. "Regional determinants of life insurance consumption: evidence from selected Asian economies," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 27(2), pages 86-103, November.
    22. Peter, Richard, 2021. "Prevention as a Giffen good," Economics Letters, Elsevier, vol. 208(C).

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    Keywords

    Risk Aversion ; Insurance;

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