Abstract
The article on hand presents two complementary decision principles and their application to the non-proportional reinsurance business. Thereby these decision principles use a convex combination of risk measures and therefore allow the modelling of risk preferences of decision makers. In this regard, the main objective is to prove the risk preferences for this decision principles as well as to put them in the context of the decision theory. In this connection, the expected utility theory and the dual utility theory are explored. Furthermore the aspect of coherent risk measures is analyzed. Moreover for the two reinsurance models the special case of a fair reinsurance deductible on the one hand and the special case of a CVaR-decision maker on the other hand is examined.
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