Article ID: | iaor200920 |
Country: | Germany |
Volume: | 4 |
Issue: | 2/3 |
Start Page Number: | 187 |
End Page Number: | 198 |
Publication Date: | Jan 1996 |
Journal: | Central European Journal of Operations Research |
Authors: | Kischka Peter |
Keywords: | risk |
In this paper optimal decisions are considered with respect to a bivariate random variable (X, Y). Whereas the random variable X can be controlled by the decision maker the random variable Y is controlled exogenously. We are interested in the reaction with respect to the controlled variable to variations of the exogenous variable. Monotonicity properties are derived within the theory of insurance demand.