Hogarth, Robin M; Kunreuther, Howard - In: Journal of Risk and Uncertainty 2 (1989) 1, pp. 5-35
In a series of experiments, economically sophisticated subjects, including professional actuaries, priced insurance both as consumers and as firms under conditions of ambiguity. Findings support implications of the Einhorn-Hogarth ambiguity model: (1) for low probability-of-loss events, prices...