손해심도의 증가와 보험수요에 관한 경제학적 분석
An Economic Analysis of the Effect of Increased Loss Amount on the Demand for Insurance
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초록
본 연구는 (1차확률지배) 위험증가의 일환으로 손해심도의 증가가 최적보험수요에 미치는 영향을 분석한다. 본 분석은 위험증가에 관한 대부분의 기존연구와는 달리, 손해심도의 증가가 보험료에 미치는 영향을 명시적으로 고려한다. 요컨대, 본 연구는 손실심도의 증가에 대해 위험회피 성향을 지닌 모든 보험계약자의 경우 보험수요를 증가시킨다는 설득력 있는 연구결과를 제시하고, 그 내용을 위험대체효과와 가격대체효과 및 소득효과의 맥락에서 해석한다. 또한 본 논문은 binary risk모형의 간편성을 활용해, 수리경제학적 연구결과를 보다 직관적으로 설명하는 그림 분석도 병행한다.
Abstract
In the existing insurance literature most studies on shift of insurable risk assume a fixed premium even though the shift evidently changes the mean loss. In this article, taking into account the adjustment of the premium we investigate the direction of change in the optimal amount of insurance, following a shift of loss severity. In particular, it is shown that an increase in the loss amount induces a risk-averse individual with non-increasing absolute risk aversion to increase his/her demand for insurance. We interpret these results in terms of the income and substitution effects. In addition, the simplicity of the binary risk model employed in this paper allows us to present an intuitive graphical analysis.
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