A Proposal to Construct “Behavioral Insurance Theory” (Revised Edition)

要約

Traditional insurance economics derives some definite conclusions using the neoclassical economics method. However, those conclusions are too abstract to explain phenomena in the real insurance market. In other words, a number of anomalies remain that are not explained by traditional insurance economics. In this paper, in order to solve this problem, we propose the development of a “behavioral insurance theory,” which is influenced by the establishment of “behavioral finance,” which in turn emerged from the field known as “behavioral economics,” and in which the analysis is less bound to subjects in the market. This proposal represents a paradigm shift in traditional insurance theory.

Key words: Behavioral economics, Regarding insurance premium as “a waste of money,” Anomalies, Paradigm shift

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高尾厚

山崎尚志

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