Kunreuther, Howard; Hogarth, Robin; Meszaros, Jacqueline - In: Journal of Risk and Uncertainty 7 (1993) 1, pp. 71-87
A series of studies investigate the decision processes of actuaries, underwriters, and reinsurers in setting premiums for ambiguous and uncertain risks. Survey data on prices reveal that all three types of these insurance decision makers are risk averse and ambiguity averse. In addition, groups...