Chiu, W. - In: The Geneva Papers on Risk and Insurance Theory 30 (2005) 1, pp. 35-40
Pratt [1964] establishes that a more risk-averse individual in the Arrow-Pratt sense has a higher compensating risk premium for full insurance, but no comparable result has been established for partial insurance. Ross [1981] shows that a more risk-averse individual in the Arrow-Pratt sense may...