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The Impact of Regret on the Demand for Insurance

Citations

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Cited by:

  1. Wong, Kit Pong, 2015. "A regret theory of capital structure," Finance Research Letters, Elsevier, vol. 12(C), pages 48-57.
  2. Armantier, Olivier & Foncel, Jérôme & Treich, Nicolas, 2023. "Insurance and portfolio decisions: Two sides of the same coin?," Journal of Financial Economics, Elsevier, vol. 148(3), pages 201-219.
  3. Javad Nasiry & Ioana Popescu, 2012. "Advance Selling When Consumers Regret," Management Science, INFORMS, vol. 58(6), pages 1160-1177, June.
  4. Wong, Kit Pong, 2014. "Fixed versus variable rate loans under regret aversion," Economic Modelling, Elsevier, vol. 42(C), pages 140-145.
  5. Ben Irons & Cameron Hepburn, 2007. "Regret Theory and the Tyranny of Choice," The Economic Record, The Economic Society of Australia, vol. 83(261), pages 191-203, June.
  6. Johannes G. Jaspersen & Vijay Aseervatham, 2017. "The Influence of Affect on Heuristic Thinking in Insurance Demand," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 84(1), pages 239-266, March.
  7. Fujii, Yoichiro & Okura, Mahito & Osaki, Yusuke, 2016. "Regret, rejoicing, and mixed insurance," Economic Modelling, Elsevier, vol. 58(C), pages 126-132.
  8. Hau, Arthur, 2010. "Comparative statics of changes in risk on monotonically and partially responsive kinked payoffs," European Journal of Operational Research, Elsevier, vol. 201(1), pages 267-276, February.
  9. Lunn, Pete & McGowan, Féidhlim & Howard, Noel, 2018. "Do some financial product features negatively affect consumer decisions? a review of evidence," Research Series, Economic and Social Research Institute (ESRI), number RS78.
  10. Kit Pong Wong, 2020. "Optimal nonlinear pricing by a regret‐averse monopoly," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 41(7), pages 1156-1161, October.
  11. Martín Egozcue & Xu Guo & Wing-Keung Wong, 2015. "Optimal output for the regret-averse competitive firm under price uncertainty," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 5(2), pages 279-295, December.
  12. Qin, Jie, 2020. "Regret-based capital asset pricing model," Journal of Banking & Finance, Elsevier, vol. 114(C).
  13. Wong, Kit Pong, 2012. "Production and insurance under regret aversion," Economic Modelling, Elsevier, vol. 29(4), pages 1154-1160.
  14. Erwann O. Michel‐Kerjan & Carolyn Kousky, 2010. "Come Rain or Shine: Evidence on Flood Insurance Purchases in Florida," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(2), pages 369-397, June.
  15. Howard Kunreuther & Mark V. Pauly, 2018. "Dynamic Insurance Decision-Making for Rare Events: The Role of Emotions," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(2), pages 335-355, April.
  16. Christian Gollier, 2020. "Aversion to risk of regret and preference for positively skewed risks," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(4), pages 913-941, November.
  17. Udo Broll & Peter Welzel & Kit Pong Wong, 2016. "Regret theory and the competitive firm revisited," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 6(3), pages 481-487, December.
  18. repec:zbw:rwirep:0537 is not listed on IDEAS
  19. Wong, Kit Pong, 2014. "Regret theory and the competitive firm," Economic Modelling, Elsevier, vol. 36(C), pages 172-175.
  20. Michenaud, Sébastien & Solnik, Bruno, 2008. "Applying regret theory to investment choices: Currency hedging decisions," Journal of International Money and Finance, Elsevier, vol. 27(5), pages 677-694, September.
  21. Niu, Cuizhen & Guo, Xu & Wang, Tao & Xu, Peirong, 2014. "Regret theory and the competitive firm: A comment," Economic Modelling, Elsevier, vol. 41(C), pages 312-315.
  22. Muermann, Alexander & Mitchell, Olivia S. & Volkman, Jacqueline M., 2006. "Regret, portfolio choice, and guarantees in defined contribution schemes," Insurance: Mathematics and Economics, Elsevier, vol. 39(2), pages 219-229, October.
  23. de Meza, David & Diane Reyniers, Liza C. Fessner, 2015. "Evidence that waste aversion begets insurance aversion," Economics Letters, Elsevier, vol. 126(C), pages 75-77.
  24. Liran Einav & Amy Finkelstein & Paul Schrimpf, 2007. "The Welfare Cost of Asymmetric Information: Evidence from the U.K. Annuity Market," NBER Working Papers 13228, National Bureau of Economic Research, Inc.
  25. Zheng, Jiakun, 2021. "Willingness to pay for reductions in health risks under anticipated regret," Journal of Health Economics, Elsevier, vol. 78(C).
  26. Platteau, Jean-Philippe & Ugarte Ontiveros, Darwin, 2021. "Cognitive bias in insurance: Evidence from a health scheme in India," World Development, Elsevier, vol. 144(C).
  27. Franz Sinabell & Thomas Url, 2006. "Versicherungen als effizientes Mittel zur Risikotragung von Naturgefahren," WIFO Studies, WIFO, number 28181.
  28. Udo Broll & Peter Welzel & Kit Pong Wong, 2024. "Hedging and the regret theory of the firm," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 47(1), pages 259-273, June.
  29. Entrop, Oliver & Fuchs, Fabian U., 2020. "Foreign exchange rate exposure of companies under dynamic regret," Passauer Diskussionspapiere, Betriebswirtschaftliche Reihe B-40-20, University of Passau, Faculty of Business and Economics.
  30. Martín Jorge Egozcue, 2012. "Gains from diversification: a regret theory approach," Economics Bulletin, AccessEcon, vol. 32(1), pages 204-219.
  31. Rachel J. Huang & Alexander Muermann & Larry Y. Tzeng, 2016. "Hidden Regret In Insurance Markets," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(1), pages 181-216, January.
  32. Kairies-Schwarz, Nadja & Kokot, Johanna & Vomhof, Markus & Weßling, Jens, 2017. "Health insurance choice and risk preferences under cumulative prospect theory – an experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 137(C), pages 374-397.
  33. Jeffrey Sohl, 2022. "Angel investors: the impact of regret from missed opportunities," Small Business Economics, Springer, vol. 58(4), pages 2281-2296, April.
  34. Prachi Deuskar & Deng Pan & Fei Wu & Hongfeng Zhou, 2021. "How does regret affect investor behaviour? Evidence from Chinese stock markets," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(S1), pages 1851-1896, April.
  35. Xiaodong Du & Hongli Feng & David A. Hennessy, 2017. "Rationality of Choices in Subsidized Crop Insurance Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 99(3), pages 732-756.
  36. Renate Buijze & Christoph Engel & Sigrid Hemels, 2015. "Insuring Your Donation – An Experiment," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2015_16, Max Planck Institute for Research on Collective Goods, revised Jul 2016.
  37. Qiuqi Wang & Ruodu Wang & Ricardas Zitikis, 2021. "Risk measures induced by efficient insurance contracts," Papers 2109.00314, arXiv.org, revised Sep 2021.
  38. Wang, Qiuqi & Wang, Ruodu & Zitikis, Ričardas, 2022. "Risk measures induced by efficient insurance contracts," Insurance: Mathematics and Economics, Elsevier, vol. 103(C), pages 56-65.
  39. Jiakun Zheng, 2020. "Optimal insurance design under narrow framing," Post-Print hal-04227370, HAL.
  40. Frehen, Rik G.P. & Hoevenaars, Roy P.M.M. & Palm, Franz C. & Schotman, Peter C., 2008. "Regret aversion and annuity risk in defined contribution pension plans," Insurance: Mathematics and Economics, Elsevier, vol. 42(3), pages 1050-1061, June.
  41. Butler Richard J, 2017. "Econometrics Illustrated, with Applications from Insurance-Research Awards," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 11(2), pages 1-21, July.
  42. Klimm, Felix & Kocher, Martin G. & Opitz, Timm & Schudy, Simeon, 2023. "Time pressure and regret in sequential search," Journal of Economic Behavior & Organization, Elsevier, vol. 206(C), pages 406-424.
  43. Baojun Jiang & Chakravarthi Narasimhan & Özge Turut, 2017. "Anticipated Regret and Product Innovation," Management Science, INFORMS, vol. 63(12), pages 4208-4323, December.
  44. Zheng, Jiakun, 2020. "Optimal insurance design under narrow framing," Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 596-607.
  45. K. Goda & H. P. Hong, 2008. "Implied Preference for Seismic Design Level and Earthquake Insurance," Risk Analysis, John Wiley & Sons, vol. 28(2), pages 523-537, April.
  46. Daniel Gottlieb & Olivia S. Mitchell, 2020. "Narrow Framing and Long‐Term Care Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(4), pages 861-893, December.
  47. Goedde-Menke, Michael & Lehmensiek-Starke, Moritz & Nolte, Sven, 2014. "An empirical test of competing hypotheses for the annuity puzzle," Journal of Economic Psychology, Elsevier, vol. 43(C), pages 75-91.
  48. Jiakun Zheng, 2021. "Willingness to pay for reductions in health risks under anticipated regret," Post-Print hal-04227414, HAL.
  49. Kuang, Yunjuan & Ng, Chi To, 2018. "Pricing substitutable products under consumer regrets," International Journal of Production Economics, Elsevier, vol. 203(C), pages 286-300.
  50. Patricia H. Born & E. Tice Sirmans, 2019. "Regret in health insurance post‐purchase behavior," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 22(2), pages 207-219, July.
  51. Wong, Kit Pong, 2011. "Regret theory and the banking firm: The optimal bank interest margin," Economic Modelling, Elsevier, vol. 28(6), pages 2483-2487.
  52. Broll, Udo & Welzel, Peter & Wong, Kit Pong, 2017. "The firm under regret aversion," CEPIE Working Papers 03/17, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
  53. Florian Teleaba & Sorin Popescu & Marieta Olaru & Diana Pitic, 2021. "Risks of Observable and Unobservable Biases in Artificial Intelligence Predicting Consumer Choice," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 23(56), pages 102-102, February.
  54. Broll, Udo & Welzel, Peter & Wong, Kit Pong, 2020. "Regret aversion and asymmetric price distribution," The Journal of Economic Asymmetries, Elsevier, vol. 21(C).
  55. Platteau, Jean-Philippe & Ugarte Ontiveros, Darwin, 2017. "Cognitive Bias in Insurance: Evidence from India," CEPR Discussion Papers 12242, C.E.P.R. Discussion Papers.
  56. Lin, Jyh-Horng & Hung, Wei-Ming, 2013. "A barrier option framework for bank interest margin management under anticipatory regret aversion," Economic Modelling, Elsevier, vol. 33(C), pages 794-801.
  57. Shapira, Zur & Venezia, Itzhak, 2008. "On the preference for full-coverage policies: Why do people buy too much insurance?," Journal of Economic Psychology, Elsevier, vol. 29(5), pages 747-761, November.
  58. Chi, Yichun & Zhuang, Sheng Chao, 2022. "Regret-based optimal insurance design," Insurance: Mathematics and Economics, Elsevier, vol. 102(C), pages 22-41.
  59. Broll Udo & Wong Kit Pong & Welzel Peter, 2016. "The Impact of Regret on Exports," German Economic Review, De Gruyter, vol. 17(2), pages 192-205, May.
  60. Drevs Florian & Nguyen Tristan, 2012. "Adverse Selektion light – Der Einfluss des Flat-Rate-Bias auf das Tarifwahlverhalten bei Krankenversicherungen / Adverse Selection Light – How can flat-rate bias influence insurance demand," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 63(1), pages 365-382, January.
  61. Bakó, Barna & Neszveda, Gábor, 2020. "The Achilles’ heel of Salience theory and a way to fix it," Economics Letters, Elsevier, vol. 193(C).
  62. Korn, Olaf & Rieger, Marc Oliver, 2016. "Hedging with regret," CFR Working Papers 16-06, University of Cologne, Centre for Financial Research (CFR).
  63. Johannes G. Jaspersen & Richard Peter & Marc A. Ragin, 2023. "Probability weighting and insurance demand in a unified framework," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 48(1), pages 63-109, March.
  64. Han Bleichrodt & Alessandra Cillo & Enrico Diecidue, 2010. "A Quantitative Measurement of Regret Theory," Management Science, INFORMS, vol. 56(1), pages 161-175, January.
  65. Jean Philippe Platteau & Darwin Ugarte Ontiveros, 2013. "Understanding and Information Failures in Insurance: Evidence from India," Development Research Working Paper Series 07/2013, Institute for Advanced Development Studies.
  66. Guo, Xu & Wong, Wing-Keung & Xu, Qunfang & Zhu, Xuehu, 2015. "Production and hedging decisions under regret aversion," Economic Modelling, Elsevier, vol. 51(C), pages 153-158.
  67. Chi, Yichun & Zheng, Jiakun & Zhuang, Shengchao, 2022. "S-shaped narrow framing, skewness and the demand for insurance," Insurance: Mathematics and Economics, Elsevier, vol. 105(C), pages 279-292.
  68. Enrico Diecidue & Nils Rudi & Wenjie Tang, 2012. "Dynamic Purchase Decisions Under Regret: Price and Availability," Decision Analysis, INFORMS, vol. 9(1), pages 22-30, March.
  69. Diecidue, Enrico & Somasundaram, Jeeva, 2017. "Regret theory: A new foundation," Journal of Economic Theory, Elsevier, vol. 172(C), pages 88-119.
  70. Tsai, Jeng-Yan, 2012. "Risk and regret aversions on optimal bank interest margin under capital regulation," Economic Modelling, Elsevier, vol. 29(6), pages 2190-2197.
  71. Xiaodong Du & Hongli Feng & David A. Hennessy, 2017. "Rationality of Choices in Subsidized Crop Insurance Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 99(3), pages 732-756.
  72. Peter John Robinson & W. J. Wouter Botzen, 2018. "The impact of regret and worry on the threshold level of concern for flood insurance demand: Evidence from Dutch homeowners," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 13(3), pages 237-245, May.
  73. Fujii, Yoichiro & Okura, Mahito & Osaki, Yusuke, 2021. "Is insurance normal or inferior? -A regret theoretical approach-," The North American Journal of Economics and Finance, Elsevier, vol. 58(C).
  74. David de Meza & Diane Reyniers, 2023. "Insuring Replaceable Possessions," Economica, London School of Economics and Political Science, vol. 90(357), pages 271-284, January.
  75. Xiaohu Qian & Shu-Cherng Fang & Min Huang & Qi An & Xingwei Wang, 2018. "Reverse auctions with regret-anticipated bidders," Annals of Operations Research, Springer, vol. 268(1), pages 293-313, September.
  76. Mol, Jantsje M. & Botzen, W.J. Wouter & Blasch, Julia E., 2020. "Behavioral motivations for self-insurance under different disaster risk insurance schemes," Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 967-991.
  77. Lu Li, 2021. "Opening up the black box: Technological transparency and prevention," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 88(3), pages 665-693, September.
  78. Broll, Udo & Welzel, Peter & Wong, Kit Pong, 2019. "Hedging and the regret theory of the competitive firm," CEPIE Working Papers 05/19, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
  79. Carlos Laciana & Elke Weber, 2008. "Correcting expected utility for comparisons between alternative outcomes: A unified parameterization of regret and disappointment," Journal of Risk and Uncertainty, Springer, vol. 36(1), pages 1-17, February.
  80. Zur Shapira & Itzhak Venezia, 2007. "On the Preference for Full-Coverage Policies: Why do People buy too much Insurance?," Levine's Bibliography 122247000000001505, UCLA Department of Economics.
  81. Peter John Robinson & W. J. Wouter Botzen, 2019. "Determinants of Probability Neglect and Risk Attitudes for Disaster Risk: An Online Experimental Study of Flood Insurance Demand among Homeowners," Risk Analysis, John Wiley & Sons, vol. 39(11), pages 2514-2527, November.
  82. Daniel R. Petrolia & Craig E. Landry & Keith H. Coble, 2013. "Risk Preferences, Risk Perceptions, and Flood Insurance," Land Economics, University of Wisconsin Press, vol. 89(2), pages 227-245.
  83. Kit Pong Wong, 2023. "A regret theory of investment timing under asymmetric information," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(3), pages 1669-1677, April.
  84. Udo Broll & Peter Welzel & Kit Wong, 2015. "Exchange Rate Risk and the Impact of Regret on Trade," Open Economies Review, Springer, vol. 26(1), pages 109-119, February.
  85. Han Bleichrodt & Peter P. Wakker, 2015. "Regret Theory: A Bold Alternative to the Alternatives," Economic Journal, Royal Economic Society, vol. 0(583), pages 493-532, March.
  86. Korn, Olaf & Rieger, Marc Oliver, 2019. "Hedging with regret," Journal of Behavioral and Experimental Finance, Elsevier, vol. 22(C), pages 192-205.
  87. Zhuzhu Zhou, 2024. "Ranking blame," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 78(2), pages 403-441, September.
  88. Tassos Patokos, 2014. "Introducing Disappointment Dynamics and Comparing Behaviors in Evolutionary Games: Some Simulation Results," Games, MDPI, vol. 5(1), pages 1-25, January.
  89. Itzhak Venezia, 2018. "Lecture Notes in Behavioral Finance," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 10751, December.
  90. Roozbeh Hosseini, 2015. "Adverse Selection in the Annuity Market and the Role for Social Security," Journal of Political Economy, University of Chicago Press, vol. 123(4), pages 941-984.
  91. repec:cup:judgdm:v:13:y:2018:i:3:p:237-245 is not listed on IDEAS
  92. Howard Kunreuther & Mark Pauly, 2015. "Insurance Decision-Making For Rare Events: The Role Of Emotions," NBER Working Papers 20886, National Bureau of Economic Research, Inc.
  93. Jacqueline Volkman Wise, 2013. "Pension Portfolio Choice and Peer Envy," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(2), pages 461-489, June.
  94. Kairies-Schwarz, Nadja & Kokot, Johanna & Vomhof, Markus & Wessling, Jens, 2014. "How Do Consumers Choose Health Insurance? – An Experiment on Heterogeneity in Attribute Tastes and Risk Preferences," Ruhr Economic Papers 537, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
  95. Zur Shapira & Itzhak Venezia, 2007. "On the Preference for Full-Coverage Policies: Why do People buy too much Insurance?," Discussion Paper Series dp460, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
  96. Bruno Solnik & Luo Zuo, 2012. "A Global Equilibrium Asset Pricing Model with Home Preference," Management Science, INFORMS, vol. 58(2), pages 273-292, February.
  97. Nadja Kairies-Schwarz & Johanna Kokot & Markus Vomhof & Jens Wessling, 2014. "How Do Consumers Choose Health Insurance? – An Experiment on Heterogeneity in Attribute Tastes and Risk Preferences," Ruhr Economic Papers 0537, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  98. Gollier, Christian, 2016. "Explaining rank-dependent utility with regret and rejoicing," IDEI Working Papers 863, Institut d'Économie Industrielle (IDEI), Toulouse.
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