Christophe Courbage

HES-SO University of Applied Sciences and Arts Western Switzerland

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Béatrice Rey

Groupe d'Analyse et de Théorie Economique Lyon St Etienne

Joan Costa‐Font

London School of Economics and Political Science

Henri Loubergé

University of Geneva

Richard Peter

University of Iowa

Guillem Montoliu‐Montes

HES-SO University of Applied Sciences and Arts Western Switzerland

Joël Wagner

University of Lausanne

Peter Zweifel

University of Zurich

Béatrice Rey-Fournier

Michael Sherris

UNSW Sydney

David Blake

City, University of London

Cooperative Institutions

University of Lausanne

London School of Economics and Political Science

National Bureau of Economic Research

HES-SO University of Applied Sciences and Arts Western Switzerland

Centre National de la Recherche Scientifique

University of Geneva

Directorate-General for Economic and Financial Affairs

Université de Bretagne Sud

Swiss Finance Institute

Institut National de la Recherche Agronomique du Niger

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Risque, santé et prévention

Christophe Courbage

Si la litterature en economie du risque fait etat d'un grand nombre de travaux et d'applications sur les outils de gestion et de controle des risques, l'hypothese la plus communement admise est que l'individu cherche a maximiser l'esperance d'utilite de sa richesse finale. Or, cette hypothese generale peut sembler restrictive a plusieurs egards. D'une part, un grand nombre de decisions economiques se prennent dans un environnement multidimensionnel. L'individu a d'autres references que sa seule richesse finale. Son niveau de sante, son temps de loisirs, sa qualite de vie, entre autres, constituent des elements non negligeables. D'autre part, un certain nombre de paradoxes ont remis en question la theorie dominante de l'esperance d'utilite due a Von Neumann et Morgenstern (1947) et Savage (1954) et de nouveaux modeles de decision permettant d'expliquer tout ou en partie ces paradoxes ont ete developpe. Aussi, l'objet de notre travail de recherche est d'etudier un certain nombre d'outils de gestion et de controle des risques financiers et de sante soit, dans une premiere partie, en considerant que les preferences de l'individu ne dependent pas seulement de sa richesse finale, soit, dans une seconde partie, en considerant un modele alternatif au principe d'esperance d'utilite, a savoir la theorie duale du risque de Yaari (1987).

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Extreme events, climate risks and insurance

The Geneva Papers on Risk and Insurance Issues and Practice (2022)

Christophe Courbage Maryam Golnaraghi

10.1057/s41288-021-00260-4

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Prevention and Private Health Insurance in the U.K.

The Geneva Papers on Risk and Insurance Issues and Practice (2004)

Christophe Courbage Augustin de Coulon

Affect

Private insurance

Group insurance

10.1111/j.1468-0440.2004.00313.x

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Citations (68)

On the Effect of Uncertainty on Personal Vaccination Decisions

SSRN Electronic Journal (2021)

Christophe Courbage Richard Peter

This paper investigates the effect of ambiguity on personal vaccination decision. We first characterize the vaccination decision in the absence of ambiguity. We then show that uncertainty about the probability of side effects and the efficacy of the vaccine always reduce take-up under ambiguity aversion. However, uncertainty about the underlying disease, being the probability of sickness or the probability of a severe course of disease, may either encourage or discourage vaccination. Our results are relevant for policy because reducing uncertainty associated with the vaccine always has the de-sired effect whereas reducing uncertainty associated with the disease may have unintended consequences.

Ambiguity aversion

10.2139/ssrn.3821166

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Citations (3)

Decision Thresholds and Changes in Risk for Preventive Treatment

RePEc: Research Papers in Economics (2016)

Christophe Courbage Béatrice Rey-Fournier

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Means-tested public support and the interaction between long-term care insurance and informal care

International Journal of Health Economics and Management (2016)

Jean-Marc Bascans Christophe Courbage Cornel Oros

Long-term care insurance

Public support

10.1007/s10754-016-9206-4

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On the properties of non-monetary measures for risks

RePEc: Research Papers in Economics (2017)

Christophe Courbage Henri Loubergé Béatrice Rey

This paper investigates how welfare losses for facing risks change as the risk environment of the decision-maker is altered. To that aim, we define the risk apportionment of order n (RAn) utility premium as a measure of pain associated with facing the passage from one risk to a riskier one. Changes in risks are expressed through the concept of stochastic dominance of order n. Three configurations of risk exposures are considered. The paper first shows how the RAn utility premium is modified when initial wealth becomes riskier. Second, the paper provides conditions on individual preferences for superadditivity of the RAn utility premium. Third, the paper investigates welfare changes of merging increases in risks. These results offer new interpretations of the sign of higher derivatives of the utility function.

Superadditivity

Stochastic dominance

Dominance (genetics)

Apportionment

Decision maker

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On Non-Monetary Measures In The Face Of Risks And The Signs Of The Derivatives

RePEc: Research Papers in Economics (2010)

Christophe Courbage Béatrice Rey

Vulnerability of both prudence and temperance towards a sure loss and towards a zero-mean background risk seems to be a very realistic assumption on individual preference. This paper shows that when the concepts of prudence and temperance are defined in non-monetary terms, the above assumption is equivalent to the usual signs of the successive derivatives of the utility function.

Prudence

Vulnerability

Zero (linguistics)

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More on the optimal demand for long-term care insurance

RePEc: Research Papers in Economics (2012)

Christophe Courbage David Crainich

The demand for long-term care (LTC) insurance depends among other things on the relationship between potential policyholders and their relatives since the latter may informally provide LTC that is otherwise purchased on the market. The combined effects of intra-family moral hazard and altruism on LTC insurance purchase are examined in this paper. First, the interaction between LTC insurance and informal care supply are determined. Then the effects of the policyholders wealth, the policyholders quality of life and the informal care givers quality of life on this interaction are analysed. Finally, the conditions under which a two-sided intra-family moral hazard occurs are investigated.

Moral hazard

Long-term care insurance

Altruism

Morale hazard

Life insurance

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ON NON‐MONETARY MEASURES IN THE FACE OF RISKS AND THE SIGNS OF THE DERIVATIVES

Bulletin of Economic Research (2010)

Christophe Courbage Béatrice Rey

ABSTRACT Vulnerability of both prudence and temperance towards a sure loss and towards a zero‐mean background risk seems to be a very realistic assumption on individual preference. This paper shows that when the concepts of prudence and temperance are defined in non‐monetary terms, the above assumption is equivalent to the usual signs of the successive derivatives of the utility function.

Prudence

Zero (linguistics)

Vulnerability

10.1111/j.1467-8586.2009.00328.x

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Citations (5)