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@article{ART002529520},
author={KIM DAEHWAN},
title={A Theory and Practice on the Association between Risk Aversion and Insurance Consumption},
journal={Journal of Insurance and Finance},
issn={2384-3209},
year={2019},
volume={30},
number={4},
pages={63-86},
doi={10.23842/jif.2019.30.4.003}

TY - JOUR
AU - KIM DAEHWAN
TI - A Theory and Practice on the Association between Risk Aversion and Insurance Consumption
JO - Journal of Insurance and Finance
PY - 2019
VL - 30
IS - 4
PB - Korea Insurance Research Institute
SP - 63
EP - 86
SN - 2384-3209
AB - Attempts have been made to prove empirically the theoretical hypotheses since the development of economics of insurance theory that the stronger the risk averse propensity, the greater the demand for insurance products. However, previous studies that attempted empirical analyses had limitations due to the limitation of the data, hardness to generalize the results, or the absence of a separate questionnaire to measure the risk aversion of an individual. On the other hand, this study utilizes the National Survey of Tax and Benefit that represents a population while there is a separate questionnaire to measure the risk aversion of an individual. The empirical results show that the stronger the risk averse propensity, the greater the demand for insurance products to hedge the risk of injury, illness, and death. As a result of further analysis of whether the questionnaire properly measures the individual's actual hedging propensity compared to a number of related studies, it was concluded that the hedging propensity variable is reliable information. Nevertheless, the risk aversion is measured using only one questionnaire, so the reliability or validity of the measurement may be low.
KW - Risk Aversion;Insurance Consumption;Private Insurance;Information Asymmetry
DO - 10.23842/jif.2019.30.4.003
ER -

KIM DAEHWAN. (2019). A Theory and Practice on the Association between Risk Aversion and Insurance Consumption. Journal of Insurance and Finance, 30(4), 63-86.

KIM DAEHWAN. 2019, "A Theory and Practice on the Association between Risk Aversion and Insurance Consumption", Journal of Insurance and Finance, vol.30, no.4 pp.63-86. Available from: doi:10.23842/jif.2019.30.4.003

KIM DAEHWAN "A Theory and Practice on the Association between Risk Aversion and Insurance Consumption" Journal of Insurance and Finance 30.4 pp.63-86 (2019) : 63.

KIM DAEHWAN. A Theory and Practice on the Association between Risk Aversion and Insurance Consumption. 2019; 30(4), 63-86. Available from: doi:10.23842/jif.2019.30.4.003

KIM DAEHWAN. "A Theory and Practice on the Association between Risk Aversion and Insurance Consumption" Journal of Insurance and Finance 30, no.4 (2019) : 63-86.doi: 10.23842/jif.2019.30.4.003

KIM DAEHWAN. A Theory and Practice on the Association between Risk Aversion and Insurance Consumption. Journal of Insurance and Finance, 30(4), 63-86. doi: 10.23842/jif.2019.30.4.003

KIM DAEHWAN. A Theory and Practice on the Association between Risk Aversion and Insurance Consumption. Journal of Insurance and Finance. 2019; 30(4) 63-86. doi: 10.23842/jif.2019.30.4.003

KIM DAEHWAN. A Theory and Practice on the Association between Risk Aversion and Insurance Consumption. 2019; 30(4), 63-86. Available from: doi:10.23842/jif.2019.30.4.003

KIM DAEHWAN. "A Theory and Practice on the Association between Risk Aversion and Insurance Consumption" Journal of Insurance and Finance 30, no.4 (2019) : 63-86.doi: 10.23842/jif.2019.30.4.003