Abstract
BY THE END OF THIS CHAPTER YOU SHOULD BE ABLE TO:
1. Compare and contrast the subjectively expected utility and bounded rationality accounts of insurance purchase decisions.
2. Discuss the causes of insurance mis-selling and approaches to insurance consumer protection.
3. Explain the economic concept of moral hazard in relation to insurance behaviour, in particular with reference to insurance fraud and deterrence.
1. Compare and contrast the subjectively expected utility and bounded rationality accounts of insurance purchase decisions.
2. Discuss the causes of insurance mis-selling and approaches to insurance consumer protection.
3. Explain the economic concept of moral hazard in relation to insurance behaviour, in particular with reference to insurance fraud and deterrence.
| Original language | English |
|---|---|
| Title of host publication | Economic Psychology |
| Editors | Rob Ranyard |
| Place of Publication | Chichester |
| Publisher | Wiley-Blackwell |
| Pages | 452-467 |
| Number of pages | 16 |
| ISBN (Electronic) | 9781118926390 |
| ISBN (Print) | 9781118926482 |
| Publication status | Published - 1 Aug 2017 |
Keywords
- Insurance
- Organizational & Industrial Psychology