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.

中文翻译：

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多变量组合下的通用保险

对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理论和实践中反复出现的主题。在本文中，我们开发了具有普遍适销性的保险赔偿的概率和结构特征，因为它们吸引了所有风险偏好尊重凸顺序的投保人。我们从给定投保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种风险并存的情况。各种形式的非递减和 1-Lipschitz 条件被证明与普遍适销性的概念密切相关。作为本文的重头戏，