Briys, Eric; Dionne, Georges; Eeckhoudt, Louis - In: Journal of Risk and Uncertainty 2 (1989) 4, pp. 415-20
In this article, we generalize the Hoy and Robson (1981) analysis and provide a necessary and sufficient condition for insurance not to be a Giffen good. The condition gives a bound for the variation of absolute risk aversion that permits the wealth effect to be always dominated by the...
