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Jan-Christian Fey
Title
M.Sc.
Last Name
Fey
First name
Jan-Christian
Email
jan-christian.fey@unisg.ch
Phone
+41 71 224 7947
Now showing
1 - 7 of 7
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PublicationLimited Information and its Impact on a Policyholder's Optimal Choice on Deductibles(Institut für Versicherungswirtschaft (I.VW-HSG), 2022)When determining the optimal deductible level for an insurance policy, a policyholder faces two sources of uncertainty. First, uncertainty arises from the randomness of future losses. Second, the opacity of the functional forms of the policyholder’s loss distribution and utility function also contributes to uncertainty. While the academic literature focuses on the former, we additionally include limited information on these functional forms in our model setting to reflect real-world decision making. That is, we draw on an expected utility framework and analyze the relationship between optimal deductible levels under limited and full information. We also derive several decision rules under limited information in order to approximate the optimal deductible level under full information. To support real-world decision making, these rules could be easily implemented in an online decision aid.Type: journal articleJournal: I.VW-HSG Working Papers on Risk and InsuranceIssue: 257
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PublicationRisk Attitude and Capital Market Participation: Is There a Gender Investment Gap in Germany?(ZEW – Leibniz Centre for European Economic Research, 2020-12)
;Lerbs, Oliver ;Schmidt, CarolinWeber, MartinDo women invest differently than men? We contribute to the answer of this question by analysing the Panel on Household Finances (PHF) of the German Bundesbank. This representative panel collects a wide variety of behavioural and financial variables in the area of household finance. We find that participation in risky assets is generally lower among women than among men. Once risk attitude is controlled for, this effect shrinks to only 2.6 percent. We find no difference when single women are compared to single men - even irrespective of other demographic variables. The raw gap in capital market participation is mainly explained by different risk attitudes and monetary endowments, but women would participate even less in the capital market if they reacted as sensitively to risk aversion as their male counterparts. Lastly, given participation in the market, we find that both genders hold comparable portions of risky assets in their portfolios. Within their risky assets, men invest more in certificates and listed shares whereas women invest more in funds.Type: journal articleJournal: ZEW Discussion PapersIssue: 20-080 -
PublicationLimited Information and its Impact on a Policyholder's Optimal Choice on Deductibles( 2022)When determining the optimal deductible level for an insurance policy, a policyholder faces two sources of uncertainty. First, uncertainty arises from the randomness of future losses. Second, the opacity of the functional forms of the policyholder's loss distribution and utility function also contributes to uncertainty. While the academic literature focuses on the former, we additionally include limited information on these functional forms in our model setting to reflect real-world decision making. That is, we draw on an expected utility framework and analyze the relationship between optimal deductible levels under limited and full information. We also derive several decision rules under limited information in order to approximate the optimal deductible level under full information. To support real-world decision making, these rules could be easily implemented in an online decision aid.Type: conference paper
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PublicationLimited Information and its Impact on a Policyholder's Optimal Choice on Deductibles( 2022)When determining the optimal deductible level for an insurance policy, a policyholder faces two sources of uncertainty. First, uncertainty arises from the randomness of future losses. Second, the opacity of the functional forms of the policyholder's loss distribution and utility function also contributes to uncertainty. While the academic literature focuses on the former, we additionally include limited information on these functional forms in our model setting to reflect real-world decision making. That is, we draw on an expected utility framework and analyze the relationship between optimal deductible levels under limited and full information. We also derive several decision rules under limited information in order to approximate the optimal deductible level under full information.Type: conference paper
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PublicationType: conference paper
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PublicationLimited Information and its Impact on a Policyholder's Optimal Choice on Deductibles( 2020)When determining the optimal deductible level for an insurance policy, a policyholder faces two sources of uncertainty. First, uncertainty arises from the randomness of future losses. The opacity of the functional forms of the policyholder's loss distribution as well as her utility function, on the other hand, causes a second kind of uncertainty. While the academic literature focuses on the former, we additionally incorporate limited information on these functional forms. That is, we draw on an expected utility framework and analyze the relationship between optimal deductible levels under limited and full information. Further, we derive heuristics under limited information in order to approximate the optimal deductible level under full information.Type: conference paper
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PublicationType: newspaper articleJournal: I.VW Management-InformationVolume: 42Issue: 2