The Cost/Loss Utility Ratio

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  • 1 The Travelers Insurance Company, Hartford, Conn
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Abstract

The cost/loss ratio (C/ L) is examined from the point of view of utility analysis. A simple adjustment factor is proposed to compensate for errors which may arise when dollar rather than utility values are used for C and L.

Abstract

The cost/loss ratio (C/ L) is examined from the point of view of utility analysis. A simple adjustment factor is proposed to compensate for errors which may arise when dollar rather than utility values are used for C and L.

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