David Alary, Christian Gollier, and Nicolas Treich, The Effect of Ambiguity Aversion on Insurance and Self-protection, The Economic Journal, vol. 123, n. 573, December 2013, pp. 1188–1202.


In this paper, we show that ambiguity aversion always raises the demand for self-insurance and the insurance coverage, but may de- crease the demand for self-protection. We also characterize the opti- mal insurance design under ambiguity aversion, and exhibit a case in which the straight deductible contract is optimal as in the expected utility model.

Research partnership

Scor Chair

Research theme

Risk Attitude