THEORETICAL CONCEPTS OF MICROINSURANCE

Authors

  • Thanida Chitnomrath College of Innovative Business and Accountancy, Dhurakij Pundit University

Keywords:

Microinsurance, Concepts and Theories of Behavioral Economics

Abstract

This academic article is concerned microinsurance for people that have low income. The purpose of the article is to review microinsurance literature on the concepts and theories of behavioral economics, including the concept of risk behavior of individuals and the theory of expected utility, concepts about loss aversion and expectation theory, concepts of ambiguity aversion and individual behavior being satisfied with the current return over the future (Hyperbolic discounting). In addition, the review also presents a test of concepts and theories in practice. The test reveals several factors that may contribute significantly to the demand for microinsurance products and the growth extension of the insurance industry in emerging markets.

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References

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Published

2020-06-16

How to Cite

Chitnomrath, T. (2020). THEORETICAL CONCEPTS OF MICROINSURANCE. Suthiparithat, 32(102), 264–276. Retrieved from https://so05.tci-thaijo.org/index.php/DPUSuthiparithatJournal/article/view/243480

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Section

Academic Articles

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