Abstract
Defining the outputs of the property insurance and gambling sectors of an economy has proved to be a difficult problem for national income accountants. It is well known that the traditional expected-utility model is not consistent with economic agents fully insuring their property. Thus the present paper adapts existing non-expectedutility theories to yield useful measures of output for the property insurance and gambling sectors.
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Diewert, W.E. (1995). Functional Form Problems in Modeling Insurance and Gambling. In: Gollier, C., Machina, M. (eds) Non-Expected Utility and Risk Management. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-2440-1_8
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DOI: https://doi.org/10.1007/978-94-017-2440-1_8
Publisher Name: Springer, Dordrecht
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