Skill and Chance in Insurance Policies
Skill and Chance in Insurance Policies
Author(s): Maria Erminia Marina, Vito FragnelliSubject(s): Economy
Published by: Univerzita Karlova v Praze - Institut ekonomických studií
Keywords: Skill; casino game; insurance
Summary/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.
Journal: Czech Economic Review
- Issue Year: 5/2011
- Issue No: 02
- Page Range: 191-202
- Page Count: 12
- Language: English