The Effect of Ambiguity Aversion on Insurance and Self‐protection
研究发现模糊厌恶总是提高对自我保险和保险覆盖的需求，但可能降低对自我防护的需求，并刻画了模糊厌恶下的最优保险设计。
In this paper, we show that ambiguity aversion always raises the demand for self-insurance and the insurance overage, but may decrease the demand for self-protection. We also characterize the optimal insurance design under ambiguity aversion, and exhibit a case in which the straight deductible contract is optimal as in the expected utility model.