FEEM working papers "Note di lavoro" series
2002 .087

Environmental Pollution Risk and Insurance


Authors: Vito Fragnelli, Maria E. Marina
Series: Climate Change and Sustainable Development
Editor: Carlo Carraro
Type: Book
Keywords: Environmental risk,Cooperative game
JEL: Game Practice and the Environment
Published in: Edward Elgar
Date: 2004

Abstract

We consider environmental risks that are evaluated too much heavy for a single insurance company, but they can be insured by n companies which a premium is assigned to.This is precisely the Italian scenario where a pool of companies co-insures these risks.Under a game theoretic approach we start by analyzing how they should split the risk and the premium in order to be better off. Under suitable hypotheses, there exists an optimal decomposition of the risk, that allow us to define a cooperative game whose properties and some particular solutions are analysed.

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