Table 1.
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Probabilities associated to states of nature for index-based insurance

 LossesNo lossesRow total
No indemnity|$\rho^k_{l+ni}$||$\rho^k_{nl+ni}$||$1 - \rho^{i}$|
Indemnity triggered by index|$\rho^k_{l+i}$||$\rho^k_{nl+i}$||$\rho{^i} $|
Column total|$\rho{^k}$||$1 - \rho^{k}$|1
 LossesNo lossesRow total
No indemnity|$\rho^k_{l+ni}$||$\rho^k_{nl+ni}$||$1 - \rho^{i}$|
Indemnity triggered by index|$\rho^k_{l+i}$||$\rho^k_{nl+i}$||$\rho{^i} $|
Column total|$\rho{^k}$||$1 - \rho^{k}$|1
Table 1.
Open in new tab

Probabilities associated to states of nature for index-based insurance

 LossesNo lossesRow total
No indemnity|$\rho^k_{l+ni}$||$\rho^k_{nl+ni}$||$1 - \rho^{i}$|
Indemnity triggered by index|$\rho^k_{l+i}$||$\rho^k_{nl+i}$||$\rho{^i} $|
Column total|$\rho{^k}$||$1 - \rho^{k}$|1
 LossesNo lossesRow total
No indemnity|$\rho^k_{l+ni}$||$\rho^k_{nl+ni}$||$1 - \rho^{i}$|
Indemnity triggered by index|$\rho^k_{l+i}$||$\rho^k_{nl+i}$||$\rho{^i} $|
Column total|$\rho{^k}$||$1 - \rho^{k}$|1
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