Koehl, Pierre-Francois; Villeneuve, Bertrand - In: Journal of Risk and Uncertainty 25 (2002) 1, pp. 47-64
We define a repairable asset as an irreplaceable commodity whose quality is at risk, but can be partly restored at a cost. Examples are houses, automobiles and, especially, health, for which standard monetary approaches are oversimplified. To optimize the value of insurance, the insurer and the...