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dc.contributor.authorGutiérrez Díez, Pedro José 
dc.date.accessioned2019-09-07T19:22:55Z
dc.date.available2019-09-07T19:22:55Z
dc.date.issued2018
dc.identifier.citationInternational Journal of Risk Assessment and Management, 2018 Vol.21 No.3, pp.155 - 183es
dc.identifier.issn1466-8297es
dc.identifier.urihttp://uvadoc.uva.es/handle/10324/37803
dc.description.abstractWe prove that, in standard insurance markets, rational agents have an incentive to choose as subjective probabilities those incurring in an optimism bias, since they imply real and objective net gains. Our agent-based model of insurance markets thus clarifies how rational optimism naturally appears and persists in insurance markets, opening up the possibility to explain the optimism bias observed in other environments on the basis of the theory of salient perturbations. Our findings are consistent with the empirical evidence showing a systematic and coherent moderate optimism bias of agents in the assessment of probabilities.es
dc.format.mimetypeapplication/pdfes
dc.language.isospaes
dc.publisherIndersciencees
dc.rights.accessRightsinfo:eu-repo/semantics/restrictedAccesses
dc.subject.classificationAgent-based stochastic modeles
dc.subject.classificationDynamical optimisation in economics
dc.subject.classificationGeneral equilibrium model
dc.subject.classificationArrow-Debreu securities
dc.subject.classificationSubjective probabilities
dc.subject.classificationRationality
dc.subject.classificationOptimism bias
dc.subject.classificationGame theory
dc.titleAn agent-based model of rational optimismes
dc.typeinfo:eu-repo/semantics/articlees
dc.rights.holderIndersciencees
dc.identifier.doi10.1504/IJRAM.2018.093743es
dc.relation.publisherversionhttps://www.inderscience.com/info/inarticle.php?artid=93743es
dc.identifier.publicationfirstpage155es
dc.identifier.publicationissue3es
dc.identifier.publicationlastpage183es
dc.identifier.publicationtitleInternational Journal of Risk Assessment and Managementes
dc.identifier.publicationvolume21es
dc.peerreviewedSIes
dc.description.projectPedro J. Gutiérrez Diez gratefully acknowledges financial support from Spanish Office of Economy and Competitiveness and European FEDER Funds, research projects MTM2014-56022-C2-2-P and MTM2017-85476-C2-1-P.es
dc.identifier.essn1741-5241es
dc.type.hasVersioninfo:eu-repo/semantics/draftes


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