Autori: Di Mauro, Carmela , Maffioletti, Anna
Titolo: Ambiguity aversion in the insurance frame : does information matter?
Periodico: International Center for Economics Research, Torino. ICER - Working papers series
Anno: 1999 - Fascicolo: 23 - Pagina iniziale: 1 - Pagina finale: 24

In a laboratory experiment we test the hypothesis that consumers' valuation of insurance is sensitive to the amount of information available about the probability of loss. In order to test this hypothesis we simulate a market in which we elicit individuals' willingness to pay to insure against a loss characterised either by known or else vague probabilities of loss. Subjects in the experiment are split in two groups: the first group receives vague information about the probability of loss, while the second receives detailed information. We find that in general more information has a weak impact on valuation, and that it marginally increases the price individuals are willing to pay to insure.


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