TY - JOUR
T1 - Some new results on allocation of coverage limits and deductibles to mutually independent risks
AU - Li, Chen
AU - Li, Xiaohu
N1 - Publisher Copyright:
© 2017 Taylor & Francis Group, LLC.
PY - 2017/4/18
Y1 - 2017/4/18
N2 - This article further investigates the allocation of coverage limits and deductibles to multiple independent risks from the viewpoint of policyholders with increasing utility functions. In a more general setup, we develop the usual stochastic orders on the retained loss, which either generalize or supplement the corresponding results due to Lu and Meng (2011) and Hu and Wang (2014). Also, the most unfavorable and favorable allocations of coverage limits and deductibles are developed for multiple risks with dominated reversed hazard rates and hazard rates, respectively.
AB - This article further investigates the allocation of coverage limits and deductibles to multiple independent risks from the viewpoint of policyholders with increasing utility functions. In a more general setup, we develop the usual stochastic orders on the retained loss, which either generalize or supplement the corresponding results due to Lu and Meng (2011) and Hu and Wang (2014). Also, the most unfavorable and favorable allocations of coverage limits and deductibles are developed for multiple risks with dominated reversed hazard rates and hazard rates, respectively.
KW - DRHR
KW - IHR
KW - Majorization
KW - Reversed hazard rate order
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U2 - 10.1080/03610926.2015.1076475
DO - 10.1080/03610926.2015.1076475
M3 - Article
AN - SCOPUS:85008191189
SN - 0361-0926
VL - 46
SP - 3934
EP - 3948
JO - Communications in Statistics - Theory and Methods
JF - Communications in Statistics - Theory and Methods
IS - 8
ER -