In this paper, we provide an axiomatic approach to general premium priciples giving rise to a decomposition into risk … premium priciple, there exists a maximal risk measure capturing all risky components covered by the insurance prices. In a … second step, we consider dual representations of convex risk measures consistent with the premium priciple. In particular, we …

We analyze spectral risk measures with respect to comparative risk aversion following Arrow (1965) and Pratt (1964) on … widely-applied spectral Arrow-Pratt-measure is not a consistent measure of Arrow-Pratt-risk aversion. A decision maker with a … decision maker with a smaller spectral Arrow-Pratt-measure. We further show how a proper measure of Arrow-Pratt-risk aversion …