Examining the possibility of insurance contract conclusion based on utility function

Authors

  • Alexander V. Sachkov St. Petersburg State University, 199034, St. Petersburg, Russian Federation

DOI:

https://doi.org/10.21638/11701/spbu10.2023.305

Abstract

The problem of a potential insurance contract conclusion is considered taking into account client’s money utility function. A basic model is employed for practical calculations and a formula is proposed and tried for two utility functions corresponding to polar income decile groups. Conclusions are made with suggested future research directions.

Keywords:

insurance, utility, risk

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References

Литература

Bowers N. L., Gerber H. U., Hickman J. C., Jones D. A, Nesbitt C. J. Actuarial mathematics. 2nd ed. Chicago: The Society of Actuaries, 1997. 753 p.

Буре В. М., Парилина Е. М. Теория вероятностей и математическая статистика. СПб: Лань, 2013. 416 c.

Дифференциация заработной платы работников по видам экономической деятельности и профессиональным группам // Официальный сайт Федеральной службы государственной статистики.

Ногин В. Д. Сужение множества Парето: аксиоматический подход. М.: Физматлит, 2018. 272 с.


References

Bowers N. L., Gerber H. U., Hickman J. C., Jones D. A, Nesbitt C. J. Actuarial mathematics, 2nd ed. Chicago, The Society of Actuaries, 1997. 753 p.

Bure V. M., Parilina E. M. Teoriia veroyatnostei i matematicheskaia statistika [Probability and statistics]. St. Petersburg, Lan’ Publ., 2013, 416 p. (In Russian)

Differentiation of the salary by nature of business and professional groups, Federal State Statistics Service Official Web-site. (In Russian)

Noghin V. D. Suzhenie mnozhestva Pareto: aksiomaticheskii podhod [Reduction of the Pareto set: an axiomatic approach]. Moscow, Fizmatlit Publ., 2018, 272 p. (In Russian)

Обложка журнала

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Published

2023-10-23

How to Cite

Sachkov, A. V. (2023). Examining the possibility of insurance contract conclusion based on utility function. Vestnik of Saint Petersburg University. Applied Mathematics. Computer Science. Control Processes, 19(3), 369–373. https://doi.org/10.21638/11701/spbu10.2023.305

Issue

Vol. 19 No. 3 (2023)

Section

Applied Mathematics

License

Articles of "Vestnik of Saint Petersburg University. Applied Mathematics. Computer Science. Control Processes" are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.