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Individual Property Risk Management
Joint Authors
Finke, Michael S.
Huston, Sandra J.
Belasco, Eric
Source
Journal of Probability and Statistics
Issue
Vol. 2010, Issue 2010 (31 Dec. 2010), pp.1-11, 11 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2010-03-08
Country of Publication
Egypt
No. of Pages
11
Main Subjects
Abstract EN
This paper reviews household property risk management and estimates normatively optimal choice under theoretical assumptions.
Although risk retention limits are common in the financial planning industry, estimates of optimal risk retention that include both financial and human wealth far exceed limits commonly recommended.
Households appear to frame property losses differently from other wealth losses leading to wealth-reducing, excess risk transfer.
Possible theoretical explanations for excess sensitivity to loss are reviewed.
Differences between observed and optimal risk management imply a large potential gain from improved choice.
American Psychological Association (APA)
Finke, Michael S.& Belasco, Eric& Huston, Sandra J.. 2010. Individual Property Risk Management. Journal of Probability and Statistics،Vol. 2010, no. 2010, pp.1-11.
https://search.emarefa.net/detail/BIM-499459
Modern Language Association (MLA)
Finke, Michael S.…[et al.]. Individual Property Risk Management. Journal of Probability and Statistics No. 2010 (2010), pp.1-11.
https://search.emarefa.net/detail/BIM-499459
American Medical Association (AMA)
Finke, Michael S.& Belasco, Eric& Huston, Sandra J.. Individual Property Risk Management. Journal of Probability and Statistics. 2010. Vol. 2010, no. 2010, pp.1-11.
https://search.emarefa.net/detail/BIM-499459
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-499459