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Communication dans un congrès

Background risk and the value of a monetary risk

Abstract : A large literature about the analysis of risk prevention behavior has been developed this last few years. Concerning the benefit of prevention (for a single agent or for the collectivity), it is usually necessary to evaluate the agent's willingness to pay (WTP) for a risk elimination or at least a risk reduction. Since Ehrlich and Becker [ 1972 ], theoretical and empirical studies are abundant in the literature concerning the WTP to reduce a ...nancial risk (Chiu [ 1998 ], Godfroid [ 1999 ]) or a physical risk when this risk exists in an isolated way (Drèze [ 1962 ], Viscusi [ 1993 ]). But typically, agents do not face a single isolated risk but several risks at the same time . And the interaction impact between risks on the agents' prevention behavior must not be neglected . Whereas some studies in a multirisks context exist (Bleichrodt and alii [ 2002 ]), few authors are dealing with the case of di¤erent nature risks (Eeckhoudt and Hammit [ 2001 ]).
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Communication dans un congrès
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https://hal-univ-lyon3.archives-ouvertes.fr/hal-00363490
Contributeur : Daiana Di Massimo <>
Soumis le : lundi 23 février 2009 - 14:40:35
Dernière modification le : mercredi 20 novembre 2019 - 03:08:07

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  • HAL Id : hal-00363490, version 1

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Béatrice Rey, Laurence Abadie. Background risk and the value of a monetary risk. 31st seminar EGRIE European Group of Risk and Insurance Economists (EGRIE), 2004, Marseille, France. ⟨hal-00363490⟩

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