Approximately 63% of individuals act according to expected utility theory, but emotional "shocks" from suffering a loss are the primary catalysts for purchasing new insurance.
Poussin, J. et al. (2016). Flood risk mitigation by households: potential for intangible and economic loss reduction . Vrije Universiteit Amsterdam . Jenny Poussin
Contrast between Expected Utility (E(U)) maximization and behavioral models of choice. III. Key Findings Approximately 63% of individuals act according to expected
Since there isn't a widely known public figure or academic named "Jenny Poussin" associated with a specific "full paper," I’ve outlined a research paper based on the work of , a researcher specializing in flood risk management and environmental hazards. Jenny Poussin
Multi-period experiments and household surveys conducted in the Meuse river basin.