The Applications of Utility Theory in Insurance Industry

Lihua YAN, Yongmao WANG, Dehua WANG, Xiaonan WEN

Abstract


Abstract: In this paper, The Applications of Utility Theory in insurance industry are discussed from two ways.First of all we consider the insurance pricing from both insurers and insured , and makes the strict explanation from the value example to the St. Petersburg paradox. .Then we discuss insurance pricing between the risk swap agreement insurers and give the value example.
Key words: Utility Theory, Utility function, Insurance premium,expected Utility, Risk Theory(LIU, WANG & GUO. 2007)

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DOI: http://dx.doi.org/10.3968%2Fj.mse.1913035X20090302.007

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