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A simple insurance model: optimal coverage and deductible
Journal article   Peer reviewed

A simple insurance model: optimal coverage and deductible

Christopher Gaffney and Adi Ben-Israel
Annals of operations research, Vol.237(1), pp.263-279
02/2016
DOI: https://doi.org/10.1007/s10479-013-1469-2

Abstract

Business and Management Deductible Insurance Markowitz mean-variance model Operation Research/Decision Theory Optimal coverage Theory of Computation Combinatorics
An insurance model, with realistic assumptions about coverage, deductible and premium, is studied. Insurance is shown to decrease the variance of the cost to the insured, but increase the expected cost, a tradeoff that places our model in the Markowitz mean-variance model.

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