Precautionary paying for stochastic improvements under background risks
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- 作者：Hongxia Wanga ; Jianli Wangb ; jianliwang2013@gmail.com" class="auth_mail" title="E-mail the corresponding author ; Jingyuan Lic ; Xinping Xiaa
- 关键词：D81
- 刊名：Insurance: Mathematics and Economics
- 出版年：2015
- 出版时间：September 2015
- 年：2015
- 卷：64
- 期：Complete
- 页码：180-185
- 全文大小：389 K
文摘
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We propose a two-period precautionary paying model in a two-dimensional framework.
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Our model extends the temporal precautionary saving and effort model.
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We relate the role of cross-prudence to the magnitude of precautionary paying.
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We clarify the effect of background risks on optimal precautionary paying.