⌘+K

Pulse Explore Communities Researchers Journals

Home Communities Explore

January 28, 2026Risk Management and Insurance Review

Review of a theory of insurance and gambling: Replacing risk preferences with quid pro quo By JohnNyman

View at Publisher

Ask AI

Bookmark

Share

Key Points

The quid pro quo approach shows that demand for health insurance is driven by an incentive for greater consumption, not just risk aversion.
Empirical evidence challenges the traditional view of moral hazard, indicating that additional healthcare access can be welfare-enhancing.
Nyman integrates state-dependent utility into his theories of gambling and insurance, suggesting a unifying theoretical framework.
The book critiques the conventional risk preferences model by demonstrating its limitations in explaining consumer behavior in insurance and gambling.

No abstract yet

We only have this paper's title and publication details.

Read it at the source→

Implication

Review highlights the impact of quid pro quo on insurance demand, suggesting a shift from risk preferences in health economics.

Discussion

No takes yet. Share an insight, caveat, or question.

Cite This Study

Grignon Michel (2026) studied this question.

synapsesocial.com/papers/69a75d3fc6e9836116a26f23 https://doi.org/10.1111/rmir.70032

View at Publisher

Ask AI

Bookmark

Share

Keep reading

Synapse has enriched 5 related papers. Consider them for comparative context:

1Prospect Theory: An Analysis of Decision under RiskOriginal Research · 1979 · 48,487 citations
2Reference-Dependent Risk AttitudesOriginal Research · 2007 · 1,028 citations
3Insurability under uncertainty: A technology‐readiness and safe‐by‐design framework for engineered nanomaterialsRisk Management and Insurance Review · 2026
4Generative AI adoption and barriers in the insurance industryRisk Management and Insurance Review · 2026
5The effect of directors' and officers' liability insurance on tunneling: Evidence from ChinaRisk Management and Insurance Review · 2026

The impact of improved information gathering processes on the organizational form and growth of insurersRisk Management and Insurance Review · 2026
Applying risk management and insurance theory to higher education: The University of Illinois pandemic insurance policyRisk Management and Insurance Review · 2026
Representation, medical examination, and the effectiveness of underwriting: Evidence from a life and health insurance companyRisk Management and Insurance Review · 2026
Capturing dependence among large losses using extreme‐value copulas: Impacts on capital requirements for (re)insurers in regulated marketsRisk Management and Insurance Review · 2026
Conceptualizing and characterizing risk: A risk science perspective beyond traditional economic approachesRisk Management and Insurance Review · 2026

More from Risk Management and Insurance Review

More from McMaster University