Item Type | Monograph (Other) |
Abstract | In a behavioral experiment with around 500 participants, we measured the willing- ness of insurance policyholders to pay for a telematics contract. We find that there are significant welfare costs associated with digital monitoring for which individuals need to be compensated. Our results suggest that digital monitoring causes a reduction in the willingness to pay (WTP) which is in the range of 25 to 50 percent of the expected loss. Our findings set a benchmark for the demand-side costs of telematics con- tracts that need to be contrasted with the benefits of using this technology. |
Authors | Biener, Christian; Eling, Martin & Lehmann, Martin |
Journal or Publication Title | I.VW Management Information |
Language | English |
Subjects | business studies economics |
HSG Classification | contribution to practical use / society |
Date | 2020 |
Depositing User | PD Dr. Christian Biener |
Date Deposited | 14 Dec 2020 10:47 |
Last Modified | 14 Dec 2020 10:50 |
URI: | https://www.alexandria.unisg.ch/publications/261686 |
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CitationBiener, Christian; Eling, Martin & Lehmann, Martin: Experimental Evidence on the Impact of Telematics Devices on Welfare. [Monograph] Statisticshttps://www.alexandria.unisg.ch/id/eprint/261686
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