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Arrow's theorem on the optimality of deductibles: A stochastic dominance approach (*)

We provide a new proof for the optimality of deductible insurance that does not depend on the expected-utility hypothesis. Our model uses only first- and second-degree stochastic dominance arguments. <!--ID="" Correspondence to: C. Gollier -->
Year of publication:
1996
Authors: Gollier, Christian ; Schlesinger, Harris
Published in:
Economic Theory. - Springer. - Vol. 7.1996, 2, p. 359-363
Publisher: Springer
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Type of publication: Article
Source:
Persistent link: https://www.econbiz.de/10005596698
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