Asymmetries and household insurance

Eisenhauer, Joseph G.

doi:10.1016/0167-6687(93)90999-6

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A Simple Model1

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1994

1997

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Cited by 2 publications

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“…The specific conditions under which credit financing is preferable to insurance financing can be derived using a two-period insurance model which follows Eisenhauer (1993). A risk averse consumer has a concave utility function denoted by U, Y is income, and t is the tax rate.…”

Section: A Simple Modelmentioning

confidence: 99%

Household Use of Open‐End Credit to Finance Risk

Eisenhauer

1994

Journal of Consumer Affairs

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~~The use of open-end consumer credit to finance risk is becoming increasingly popular, but has long been overlooked in the literature on household risk management. This paper derives explicit conditions under which credit financing is superior to insurance policies, product service plans, and self-insurance as a means of financing risk. Implications for consumers, manufacturers, insurers, creditors, and public policymakers are discussed.

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Section: A Simple Modelmentioning

confidence: 99%