The study of desirable structural properties that define a marketable insurance contract has been a recurring theme in insurance economic theory and practice. In this article, we develop probabilistic and structural characterizations for insurance indemnities that are universally marketable in the sense that they appeal to all policyholders whose risk preferences respect the convex order. We begin with the univariate case where a given policyholder faces a single risk, then extend our results to the case where multiple risks possessing a certain dependence structure coexist. The non-decreasing and 1-Lipschitz condition, in various forms, is shown to be intimately related to the notion of universal marketability. As the highlight of this article, we propose a multivariate mixture model which not only accommodates a host of dependence structures commonly encountered in practice but is also flexible enough to house a rich class of marketable indemnity schedules.

定义可销售保险合同的理想结构特性的研究一直是保险经济学理论和实践中反复出现的主题。在本文中，我们开发了可普遍销售的保险赔付的概率和结构特征，从某种意义上说，保险赔付可吸引所有风险偏好尊重凸顺序的保单持有人。我们从给定保单持有人面临单一风险的单变量情况开始，然后将我们的结果扩展到具有某种依赖结构的多个风险共存的情况。各种形式的非递减和1-Lipschitz条件显示与普遍可销售性概念密切相关。作为本文的重点，