On temperance and risks spreading
Résumé
This paper investigates the conditions for which spreading N independent and unfair risks provides the highest level of welfare than any other possible allocations of risks. It shows that such preferences do not require a higher order property than temperance. Results are also interpreted in terms of the property of superadditivity of the utility premium.
Domaines
Economies et financesOrigine | Fichiers produits par l'(les) auteur(s) |
---|
Loading...