出版社：The Geneva Association / International Association for the Study of Insurance Economics
摘要：The paper suggests that in many insurance markets, one reasonable objective for public policy is to
increase ¡°loss coverage¡± ¨C that is, increase the expected proportion of loss events in the population
which is covered by insurance. This implies that the policymaker places higher priority on higher-risk
individuals being insured: for example (assuming a fixed sum assured for all policies) insurance of one
higher risk individual is worth the same to the policymaker as insurance of two lower-risk individuals, if
the probability of loss for each higher risk is twice that of each lower risk. That is, insurances held by
higher and lower-risk individuals are regarded as equally desirable by the policymaker ex-post, when
all uncertainty about who will suffer a loss has been resolved; but insurances held by higher-risk
individuals are regarded as (risk-proportionately) more desirable by the policymaker ex-ante.
