A contractarian approach to actuarial fairness

We defend, from a contractarian perspective, that the fair price of an insurance policy is the amount that the contracting parties agree when they are both equally uncertain about the insured event. Drawing on the approach developed by R. Sugden in The Community of Advantage, we answer two standard...

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Detalles Bibliográficos
Autores: Heras Martínez, Antonio José, Pradier, Pierre Charles, Teira Serrano, David
Tipo de recurso: artículo
Fecha de publicación:2024
País:España
Institución:Universidad Nacional de Educación a Distancia
Repositorio:e-spacio. Repositorio Institucional de la UNED
Idioma:inglés
OAI Identifier:oai:e-spacio.uned.es:20.500.14468/19411
Acceso en línea:https://hdl.handle.net/20.500.14468/19411
Access Level:acceso abierto
Palabra clave:actuarial fairness
contractarianism
risk
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spelling A contractarian approach to actuarial fairnessHeras Martínez, Antonio JoséPradier, Pierre CharlesTeira Serrano, Davidactuarial fairnesscontractarianismriskWe defend, from a contractarian perspective, that the fair price of an insurance policy is the amount that the contracting parties agree when they are both equally uncertain about the insured event. Drawing on the approach developed by R. Sugden in The Community of Advantage, we answer two standard objections raised against contractarianism in the actuarial sciences: 1) people are not wise enough to assess their actuarial risks; 2) they are not rational enough to decide which insurance policy suits them better. We show under which circumstances people can make fair actuarial agreements, without presupposing any objective risk or rationality benchmarks.e-Spacio UNED20242024-05-2120242024-01-2120242024-01-21journal articlehttp://purl.org/coar/resource_type/c_6501info:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/20.500.14468/19411reponame:e-spacio. Repositorio Institucional de la UNEDinstname:Universidad Nacional de Educación a DistanciaInglésengopen accesshttp://purl.org/coar/access_right/c_abf2info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-nd/4.0oai:e-spacio.uned.es:20.500.14468/194112026-06-06T12:38:31Z
dc.title.none.fl_str_mv A contractarian approach to actuarial fairness
title A contractarian approach to actuarial fairness
spellingShingle A contractarian approach to actuarial fairness
Heras Martínez, Antonio José
actuarial fairness
contractarianism
risk
title_short A contractarian approach to actuarial fairness
title_full A contractarian approach to actuarial fairness
title_fullStr A contractarian approach to actuarial fairness
title_full_unstemmed A contractarian approach to actuarial fairness
title_sort A contractarian approach to actuarial fairness
dc.creator.none.fl_str_mv Heras Martínez, Antonio José
Pradier, Pierre Charles
Teira Serrano, David
author Heras Martínez, Antonio José
author_facet Heras Martínez, Antonio José
Pradier, Pierre Charles
Teira Serrano, David
author_role author
author2 Pradier, Pierre Charles
Teira Serrano, David
author2_role author
author
dc.contributor.none.fl_str_mv e-Spacio UNED
dc.subject.none.fl_str_mv actuarial fairness
contractarianism
risk
topic actuarial fairness
contractarianism
risk
description We defend, from a contractarian perspective, that the fair price of an insurance policy is the amount that the contracting parties agree when they are both equally uncertain about the insured event. Drawing on the approach developed by R. Sugden in The Community of Advantage, we answer two standard objections raised against contractarianism in the actuarial sciences: 1) people are not wise enough to assess their actuarial risks; 2) they are not rational enough to decide which insurance policy suits them better. We show under which circumstances people can make fair actuarial agreements, without presupposing any objective risk or rationality benchmarks.
publishDate 2024
dc.date.none.fl_str_mv 2024
2024-05-21
2024
2024-01-21
2024
2024-01-21
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://hdl.handle.net/20.500.14468/19411
url https://hdl.handle.net/20.500.14468/19411
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
info:eu-repo/semantics/openAccess
http://creativecommons.org/licenses/by-nc-nd/4.0
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
http://creativecommons.org/licenses/by-nc-nd/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:e-spacio. Repositorio Institucional de la UNED
instname:Universidad Nacional de Educación a Distancia
instname_str Universidad Nacional de Educación a Distancia
reponame_str e-spacio. Repositorio Institucional de la UNED
collection e-spacio. Repositorio Institucional de la UNED
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.812429

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