We consider an optimal insurance design problem for an individual whose preferences are
dictated by the rank‐dependent expected utility (RDEU) theory with a concave utility function …

In recent years, general risk measures play an important role in risk management in both
finance and insurance industry. As a consequence, there is an increasing number of …

Experience across many countries shows that, without large premium subsidies, crop
insurance uptake rates are generally low. In this article, we propose to use the cumulative …

We re-visit the problem of optimal insurance design under Rank-Dependent Expected Utility
(RDEU) examined by Bernard et al.(2015), Xu (2018), and Xu et al.(2018). Unlike the latter …

In this paper, we consider an optimal insurance problem from the perspective of a risk-
averse individual who faces an insurable risk as well as some background risk and wants to …

This chapter provides a survey on optimal insurance when insurers and policyholders have
symmetric information about the distribution of potential damages. Under general conditions …

Recently distortion risk measure has been an interesting tool for the insurer to reflect its
attitude toward risk when forming the optimal reinsurance strategy. Under the distortion risk …

Distortion risk measures summarize the risk of a loss distribution by means of a single value.
In fuzzy systems, the Ordered Weighted Averaging (OWA) and Weighted Ordered Weighted …

Some recent literature studies whether contracts including financial guarantees can be
preferred by a utility-maximizing investor. The main result for contracts exposed solely to …

In his celebrated work, Arrow (1974) was the first to discover the optimality of deductible
insurance under the Expected Utility Theory; recently, Kaluszka and Okolewski (2008) …