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Finance and Banking; Taxation, Accounting and Auditing

November 28, 2025; Cambridge, UK: IX International Scientific and Practical Conference «EDUCATION AND SCIENCE OF TODAY: INTERSECTORAL ISSUES AND DEVELOPMENT OF SCIENCES»


THE IMPACT OF COGNITIVE BIASES AND BEHAVIORAL ECONOMICS ON PRICING AND RISK SELECTION IN THE INSURANCE INDUSTRY


DOI
https://doi.org/10.36074/logos-28.11.2025.006
Published
28.11.2025

Abstract

Classical economic theory and actuarial science were founded on the idealized model of the rational economic agent (Homo Economicus), whose decisions regarding the purchase of an insurance policy were based on the flawless calculation of the Expected Utility Theory (EUT).

References

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