Title
Insurance And Behavioral Economics: Improving Decisions In The Most Misunderstood Industry,New
Processing time: 1-3 days
US Orders Ships in: 3-5 days
International Orders Ships in: 8-12 days
Return Policy: 15-days return on defective items
Payment Option
Insurance Is An Extraordinarily Useful Tool To Manage Risk. When It Works As Intended, It Provides Financial Protection To Individuals And A Profitable Business Model For Insurance Firms And Their Investors. But It Is Broadly Misunderstood By Consumers, Regulators, And Insurance Executives. This Book Looks At The Behavior Of Individuals At Risk, Insurance Industry Decision Makers, And Policy Makers At The Local, State, And Federal Level Involved In The Selling, Buying, And Regulating Of Insurance. It Compares Their Actions To Those Predicted By Benchmark Models Of Choice Derived From Classical Economic Theory. When Actual Choices Stray From Predictions, The Behavior Is Considered To Be Anomalous. With Considerable Sums Of Money At Stake, Both In Consumer Premiums And Insurance Company Payouts, It Is Important To Understand The Reasons For Anomalous Behavior. Howard Kunreuther, Mark Pauly, And Stacey Mcmorrow Examine These Anomalies Through The Lens Of Behavioral Economics, Which Takes Into Account Emotions, Biases, And Simplified Decision Rules. The Authors Then Consider If And How Such Behavioral Anomalies Could Be Modified To Improve Individual And Social Welfare. This Book Is Neither A Defense Of The Insurance Industry Nor An Attack On It. Neither Is It A Consumer Guide To Purchasing Insurance, Although The Authors Believe That Consumers Will Benefit From The Insights It Contains. Rather, This Book Describes Situations In Which Both Public Policy And The Insurance Industrys Collective Posture Need To Change. This May Require Incentives, Rules, And Institutions To Help Reduce Both Inefficient And Anomalous Behavior, Thereby Encouraging Behavior That Will Improve Individual And Social Welfare.
⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.
- Q: What is the page count of this book? A: This book contains three hundred thirty-eight pages. It provides an in-depth exploration of insurance and behavioral economics.
- Q: What binding type does this book have? A: This book is available in paperback binding. This makes it lightweight and easy to handle.
- Q: What are the dimensions of this book? A: The book measures six inches in length, zero point eighty-seven inches in width, and nine point zero two inches in height.
- Q: Who is the author of this book? A: The author of this book is Howard C. Kunreuther. He is known for his work in behavioral economics and risk management.
- Q: What is the genre of this book? A: This book falls under the Economics genre. It focuses on the intersection of insurance and behavioral economics.
- Q: Is this book suitable for beginners in economics? A: Yes, this book is suitable for beginners. It explains complex concepts in an accessible manner for all readers.
- Q: What insights does this book provide? A: This book offers insights into decision-making processes in the insurance industry. It examines behavioral anomalies affecting consumer choices.
- Q: Can I read this book for academic purposes? A: Yes, this book is appropriate for academic use. It discusses theories relevant to economics and public policy.
- Q: How should I store this book? A: Store this book in a cool, dry place. Keeping it upright on a shelf can help maintain its condition.
- Q: Is this book safe for young readers? A: Yes, this book is safe for young readers. However, it is recommended for readers interested in economics.
- Q: What is the main focus of this book? A: The main focus of this book is the relationship between insurance and behavioral economics. It addresses misconceptions in the industry.
- Q: How does this book help improve decision-making? A: This book helps improve decision-making by analyzing behaviors that lead to anomalous choices in insurance. It suggests policy changes.
- Q: What type of audience is this book intended for? A: This book is intended for policymakers, consumers, and insurance professionals. It offers valuable insights for various stakeholders.
- Q: Where is this book published? A: This book is published by Cambridge University Press. It is recognized for its academic contributions.
- Q: Can I find case studies in this book? A: Yes, this book includes case studies. They illustrate key concepts in behavioral economics related to insurance.