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Volume 5, Issue 2

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Skill and Chance in Insurance Policies

Fragnelli, Vito; Marina, Maria Erminia

Year: 2011   Volume: 5   Issue: 2   Pages: 191-202

Abstract: In a game theoretical setting it is possible to assign a relative measurement of the skill required to each player for maximizing his payoff in a casino game; according to this approach we analyze the relevance of skill and chance in an insurance contract, both for the insurance company and for the customer.

JEL classification: C72, G22, J24

Keywords: Skill, casino game, insurance

RePEc: http://ideas.repec.org/a/fau/aucocz/au2011_191.html

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