Risk Retention and the Market Implied Probability of Loss
研究了企业在风险自留与风险承担之间的权衡决策，提出一个利用损失概率评估免赔额选择的模型，帮助企业做出最优决策。
The risk retention decision is a classic example of decision making under conditions of uncertainty. A cost savings may be obtained by the firm in exchange for accepting additional risk through risk assumption, but little attention has been directed toward optimizing this tradeoff for the firm. In this paper, the authors develop a model which uses the probability of loss to evaluate deductible selection. The advantage of this model is that it leads to decisions that are optimal for the firm.