Skill and Chance in Insurance Policies
Fragnelli, Vito; Marina, Maria Erminia
Year: 2011 Volume: 5 Issue: 2 Pages: 191-202
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.
JEL classification: C72, G22, J24
Keywords: Skill, casino game, insurance
RePEc: http://ideas.repec.org/a/fau/aucocz/au2011_191.html
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