HomeGroupsTalkZeitgeist
This site uses cookies to deliver our services, improve performance, for analytics, and (if not signed in) for advertising. By using LibraryThing you acknowledge that you have read and understand our Terms of Service and Privacy Policy. Your use of the site and services is subject to these policies and terms.
Hide this

Results from Google Books

Click on a thumbnail to go to Google Books.

Insurance and Behavioral Economics:…
Loading...

Insurance and Behavioral Economics: Improving Decisions in the Most… (edition 2013)

by Professor Howard C. Kunreuther, Professor Mark V. Pauly, Dr Stacey McMorrow

MembersReviewsPopularityAverage ratingConversations
11None1,179,729NoneNone
Member:kcau
Title:Insurance and Behavioral Economics: Improving Decisions in the Most Misunderstood Industry
Authors:Professor Howard C. Kunreuther
Other authors:Professor Mark V. Pauly, Dr Stacey McMorrow
Info:Cambridge University Press (2013), Edition: 0, Paperback, 338 pages
Collections:Your library
Rating:
Tags:None

Work details

Insurance and Behavioral Economics: Improving Decisions in the Most Misunderstood Industry by Professor Howard C. Kunreuther

None.

None
Loading...

Sign up for LibraryThing to find out whether you'll like this book.

No current Talk conversations about this book.

No reviews
no reviews | add a review
You must log in to edit Common Knowledge data.
For more help see the Common Knowledge help page.
Series (with order)
Canonical title
Original title
Alternative titles
Original publication date
People/Characters
Important places
Important events
Related movies
Awards and honors
Epigraph
Dedication
First words
Quotations
Last words
Disambiguation notice
Publisher's editors
Blurbers
Publisher series
Original language
Canonical DDC/MDS

References to this work on external resources.

Wikipedia in English

None

Book description
Haiku summary

Amazon.com Product Description (ISBN 0521845726, Hardcover)

Insurance is an extraordinarily useful tool to manage risk. When it works as intended, it provides financial protection to individuals and a profitable business model for insurance firms and their investors. But it is broadly misunderstood by consumers, regulators, and insurance executives. This book looks at the behavior of individuals at risk, insurance industry decision makers, and policy makers at the local, state, and federal level involved in the selling, buying, and regulating of insurance. It compares their actions to those predicted by benchmark models of choice derived from classical economic theory. When actual choices stray from predictions, the behavior is considered to be anomalous. With considerable sums of money at stake, both in consumer premiums and insurance company payouts, it is important to understand the reasons for anomalous behavior. Howard Kunreuther, Mark Pauly, and Stacey McMorrow examine these anomalies through the lens of behavioral economics, which takes into account emotions, biases, and simplified decision rules. The authors then consider if and how such behavioral anomalies could be modified to improve individual and social welfare. This book is neither a defense of the insurance industry nor an attack on it. Neither is it a consumer guide to purchasing insurance, although the authors believe that consumers will benefit from the insights it contains. Rather, this book describes situations in which both public policy and the insurance industry's collective posture need to change. This may require incentives, rules, and institutions to help reduce both inefficient and anomalous behavior, thereby encouraging behavior that will improve individual and social welfare.

(retrieved from Amazon Thu, 12 Mar 2015 18:14:56 -0400)

No library descriptions found.

Quick Links

Popular covers

Rating

Average: No ratings.

Is this you?

Become a LibraryThing Author.

 

About | Contact | Privacy/Terms | Help/FAQs | Blog | Store | APIs | TinyCat | Legacy Libraries | Early Reviewers | Common Knowledge | 132,531,023 books! | Top bar: Always visible