The Economic Theory of Risk and Insurance is a classic book written by Allan Herbert Willett and originally published in 1901. The book is a comprehensive study of the economic theory of risk and insurance, exploring the concepts and principles that underpin the insurance industry. The book begins by defining risk and insurance and examining the role of insurance in society. It then delves into the various types of risk and the methods of managing risk, including self-insurance and pooling. The book also covers the economics of insurance, including the calculation of premiums and the principles of actuarial science. Throughout the book, Willett uses real-world examples to illustrate his points and provide practical insights into the workings of the insurance industry. He also discusses the social and ethical implications of insurance, including the impact of insurance on individual behavior and the role of insurance in promoting social welfare. Overall, The Economic Theory of Risk and Insurance is a seminal work in the field of insurance economics, providing a thorough and insightful analysis of the principles and practices of insurance. It is a must-read for anyone interested in the theory and practice of risk management and insurance.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.

About the Author

Allan H. Willett was a member of the faculty of Carnegie Mellon University.

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