Experience of Risk-taking Behavior on Insurance Market from two Developing Countries: Romania and Turkey
Experience of Risk-taking Behavior on Insurance Market from two Developing Countries: Romania and Turkey

Summary/Abstract: This paper is intended to provide the research’s results on the risk-taking behavior in insurance markets under the risk condition. In this way, we prepare and apply a questionnaire for understanding the customers’ behavior on the different insurance markets. As noted by specialists, it is extremely hard for people to think about uncertainty, probability, and risk. and they react different to risky situations. Most people prefer to insure against higher-probability, low-loss hazards. In this way, policy makers should make a greater effort to understand how consumers think and react to risk and uncertainty.

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