風险管理學報第一卷第二期1999年11月 Journal of Risk Management Vol.I No.2 Nov.1999 Pp.53-64 風險趨避程度增加對 市場保險與自我保險的需求分析 Demand for Market Insurance and Self-Insurance Under an Increase in Risk Aversion 曾郁仁*(arry Y.Tzeng) 王篪玲*(Jennifer L.Wang) 何素蘭(Anne Ho) 摘要 由過去文献我們得知，在市場保险與自我保險予以分别考量的情况下，風 險超避程度較高的消费者對於市場保險與自我保險皆會有較高的需求·而本研 究發現，當市場保險與自我保險予以同時考量時，風險趨避程度較高的消费者 在自我保險的需求並不會有所改變，但是對於市場保險則會有較高的需求。重 要的是，該消費者之自我保險行為是否能被保險公司觀察到，並不會影響本研 究所發現的結果。 關键字：風險趨避程度，保險需求，市場保險，自我保險。 Abstract When analyzing the impact of an increase in risk aversion,most literature has treated the demand for market insurance and self-insurance (the expenditure on loss reduction)separately.This paper examines the comparative statics of an increased risk aversion on market insurance and self-insurance simultaneously.We find that, although a more risk averse individual would demands more market insurance and self insurance separately,he/she would maintain the same expenditure on self insurance but demand more market insurance when both market insurance and self insurance are available.Moreover,this result holds no matter his/her self-insurance behavior is observable by the insurer. Keywords:Risk aversion;Market insurance;Self-insurance. ·曾都仁(Larry Y.Tzeng),臺灣大學財務金融學系助理教授，Assistance Professor,,Finance Department,National Taiwan University. “王儷玲(Jennifer L.Wang,政治大學風险管理及保险學系助理教授，Assistance Professor,Risk Management and Insurance Department,National Cheng-Chi University. "何素蘭(Anne Ho),臺灣大學財務金融學系研究助理，Research Assistant,Finance Department, National Taiwan University.風 險 管 理 學 報 第一卷 第二期 1999年11月 Journal of Risk Management Vol.1 No.2 Nov. 1999 pp.53-64 風險趨避程度增加對 市場保險與自我保險的需求分析 Demand for Market Insurance and Self-Insurance Under an Increase in Risk Aversion 曾郁仁* (Larry Y. Tzeng) 王儷玲**(Jennifer L. Wang) 何素蘭***(Anne Ho) 摘要 由過去文獻我們得知，在市場保險與自我保險予以分別考量的情況下，風 險趨避程度較高的消費者對於市場保險與自我保險皆會有較高的需求。而本研 究發現，當市場保險與自我保險予以同時考量時，風險趨避程度較高的消費者 在自我保險的需求並不會有所改變，但是對於市場保險則會有較高的需求。重 要的是，該消費者之自我保險行為是否能被保險公司觀察到，並不會影響本研 究所發現的結果。 關鍵字：風險趨避程度，保險需求，市場保險，自我保險。 Abstract When analyzing the impact of an increase in risk aversion, most literature has treated the demand for market insurance and self-insurance (the expenditure on loss reduction) separately. This paper examines the comparative statics of an increased risk aversion on market insurance and self-insurance simultaneously. We find that, although a more risk averse individual would demands more market insurance and self insurance separately, he/she would maintain the same expenditure on self insurance but demand more market insurance when both market insurance and self insurance are available. Moreover, this result holds no matter his/her self-insurance behavior is observable by the insurer. Keywords: Risk aversion; Market insurance; Self-insurance. * 曾郁仁(Larry Y. Tzeng), 臺灣大學財務金融學系助理教授, Assistance Professor, Finance Department, National Taiwan University. ** 王儷玲(Jennifer L. Wang), 政治大學風險管理及保險學系助理教授,Assistance Professor, Risk Management and Insurance Department, National Cheng-Chi University. *** 何素蘭(Anne Ho), 臺灣大學財務金融學系研究助理, Research Assistant, Finance Department, National Taiwan University