Construct · 1 fields · 1 citations

insurance as a Giffen good: a standalone construct

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insurance asa Giffen good1 CONSTRUCTInsurance as a GiffenHOY · INSURANCE ECONOMICS

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Insurance economics

theoretical case in which demand for insurance coverage rises with its price under some risk preferences.

In insurance economics, insurance as a Giffen good refers to theoretical case in which demand for insurance coverage rises with its price under some risk preferences. This meaning comes from Hoy (1981) in Economics Letters.[1]

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References

  1. Hoy, M., & Robson, A. J. (1981). Insurance as a Giffen good. Economics Letters, 8(1), 47-51. https://doi.org/10.1016/0165-1765(81)90091-4

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