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- W4242666713 abstract "Publisher SummaryThis chapter discusses the uninsurable risks. Some economic situations in which, the people concerned seem to have arrived at a sub-optimal solution, are considered. These observations have been explained by pointing out the ethical and institutional factors that might play their part in the decision process. Ethical norms, once they are accepted, tend to be codified and become the conventions and institutional framework of the next generation. Institutions and conventions seem to have their inertia, and tend to remain unchanged for a long time after the ethical norms have changed. The existence of reinsurance shows that insurance companies have risk aversion, and this is the reason why they do not offer the customer the insurance contract that he considers as optimal." @default.
- W4242666713 created "2022-05-12" @default.
- W4242666713 date "1990-01-01" @default.
- W4242666713 modified "2023-09-28" @default.
- W4242666713 title "UNINSURABLE RISKS" @default.
- W4242666713 doi "https://doi.org/10.1016/b978-0-444-87344-6.50012-9" @default.
- W4242666713 hasPublicationYear "1990" @default.
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