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Use este identificador para citar o ir al link de este elemento: http://hdl.handle.net/1843/54216
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Campo DCValorIdioma
dc.creatorRodrigo Jardim Raadpt_BR
dc.creatorLucélia Viviane Vaz Raadpt_BR
dc.creatorGilvan Ramalho Guedespt_BR
dc.date.accessioned2023-05-30T20:38:53Z-
dc.date.available2023-05-30T20:38:53Z-
dc.date.issued2019-
dc.citation.volume39pt_BR
dc.citation.issue4pt_BR
dc.citation.spage2890pt_BR
dc.citation.epage2903pt_BR
dc.identifier.issn1545-2921pt_BR
dc.identifier.urihttp://hdl.handle.net/1843/54216-
dc.description.resumoWe propose an insurance model introducing a global contamination on agents' beliefs over exogenous and endogenous variables. We establish conditions for the elasticity of contamination such that insurance demand declines with an increase in the level of such contamination. Our model assumes that agents are risk averse and distort their beliefs about exogenous events. Distortion also influences expectations over insurance transfers by strategic default, and leads to a price markup in relation to its actuarilly fair level as markets select larger insurers, increasing their market power. We impose boundaries on the relation between risk aversion and the elasticity of contamination, which is robust in the sense that insurance demand will decline even when the beliefs contamination leads to an increase in the probability of large loss. We further show that contracts are not efficient, resulting in a long run welfare loss.pt_BR
dc.languageporpt_BR
dc.publisherUniversidade Federal de Minas Geraispt_BR
dc.publisher.countryBrasilpt_BR
dc.publisher.departmentFCE - DEPARTAMENTO DE CIÊNCIAS ECONÔMICASpt_BR
dc.publisher.departmentFCE - DEPARTAMENTO DE DEMOGRAFIApt_BR
dc.publisher.departmentICX - DEPARTAMENTO DE MATEMÁTICApt_BR
dc.publisher.initialsUFMGpt_BR
dc.relation.ispartofEconomics Bulletinpt_BR
dc.rightsAcesso Abertopt_BR
dc.subjectRisk aversionpt_BR
dc.subjectInsurancept_BR
dc.subjectSubjective probabilitypt_BR
dc.subjectElasticitypt_BR
dc.subjectBeliefs Contaminationpt_BR
dc.subject.otherElasticidadept_BR
dc.titleInsurance contracts under beliefs contaminationpt_BR
dc.typeArtigo de Periódicopt_BR
dc.url.externahttps://econpapers.repec.org/article/eblecbull/eb-19-00422.htmpt_BR
dc.identifier.orcidhttps://orcid.org/0000-0003-3974-3517pt_BR
dc.identifier.orcidhttps://orcid.org/0000-0003-2888-0823pt_BR
dc.identifier.orcidhttps://orcid.org/0000-0001-8231-238Xpt_BR
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