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Comments on: Making sense of insurance http://www.tvhe.co.nz/2008/04/07/making-sense-of-insurance/ The Visible Hand in Economics Sun, 03 Mar 2019 10:42:15 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: bal http://www.tvhe.co.nz/2008/04/07/making-sense-of-insurance/#comment-1178 Mon, 14 Apr 2008 08:26:51 +0000 http://tvhe.wordpress.com/?p=317#comment-1178 Nice to meet you.
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]]> By: rauparaha http://www.tvhe.co.nz/2008/04/07/making-sense-of-insurance/#comment-1177 Mon, 07 Apr 2008 03:36:45 +0000 http://tvhe.wordpress.com/?p=317#comment-1177 Yes, it does hinge on people looking at insurance from the reference point of the loss. It seems no less believable to me than the idea that people look at insurance from the reference frame of no loss and Nyman claims that it matches the evidence better, too. The evidence isn’t from healthcare, but from travel insurance.

I can’t say I find his argument overwhelmingly convincing, but that doesn’t mean it’s wrong. At the moment it appears to fit the evidence better than the idea of avoiding uncertainty, so I’d prefer his explanation over that until something better comes along.

]]> By: CPW http://www.tvhe.co.nz/2008/04/07/making-sense-of-insurance/#comment-1176 Mon, 07 Apr 2008 03:22:30 +0000 http://tvhe.wordpress.com/?p=317#comment-1176 I’ve only managed a quick read of the paper, it is certainly an interesting proposition. I’m correct in stating that in hinges on there being a different reference point in the state in which insurance pays out? I find this believable for the main example of health care; less so for the mundane varieties of insurance (e.g. product warranties).

Ultimately, I can’t say I found this totally convincing (mainly for the lame reason that “people don’t think like that”), but I don’t think I can do any better.

]]> By: Buy » Making sense of insurance http://www.tvhe.co.nz/2008/04/07/making-sense-of-insurance/#comment-1175 Sun, 06 Apr 2008 17:52:14 +0000 http://tvhe.wordpress.com/?p=317#comment-1175 […] ActiveWin.com – The Most Activated Windows Resource wrote an interesting post today on Making sense of insuranceHere’s a quick excerptCPW commented that this seems to be at odds with the fact that people buy insurance. After all, if people like risky losses, why would they pay… […]

]]> By: Insurance News Aggregator » Making sense of insurance http://www.tvhe.co.nz/2008/04/07/making-sense-of-insurance/#comment-1174 Sun, 06 Apr 2008 15:48:22 +0000 http://tvhe.wordpress.com/?p=317#comment-1174 […] Original post here […]

]]> By: Insurance Blog » Making sense of insurance http://www.tvhe.co.nz/2008/04/07/making-sense-of-insurance/#comment-1173 Sun, 06 Apr 2008 15:42:27 +0000 http://tvhe.wordpress.com/?p=317#comment-1173 […] the rest of this great post here […]

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