The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Multiple Dimensions of Private Information: Evidence from the Long-Term Care Insurance Market
Open accessAbstract
We demonstrate the existence of multiple dimensions of private information in the long-term care insurance market. Two types of people purchase insurance: individuals with private information that they are high risk and individuals with private information that they have strong taste for insurance. Ex post, the former are higher risk than insurance companies expect, while the latter are lower risk. In aggregate, those with more insurance are not higher risk. Our results demonstrate that insurance markets may suffer from asymmetric information even absent a positive correlation between insurance coverage and risk occurrence. The results also suggest a general test for asymmetric information.
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Cites
Regression Models and Life-Tables
Cox, D. R. (1972) · Journal of the Royal Statistical Society Series B: Statistical Methodology · doi:10.1111/j.2517-6161.1972.tb00899.x · Cited by 39,793
Estimating Risk Preferences from Deductible Choice
Cohen, A., & Einav, L. (2007) · American Economic Review · doi:10.1257/aer.97.3.745 · Cited by 708
Asymmetric Information in Health Insurance: Evidence from the National Medical Expenditure Survey
Cardon, J. H., & Hendel, I. (2001) · The RAND Journal of Economics · doi:10.2307/2696362 · Cited by 411
Cited by
Estimating Risk Preferences from Deductible Choice
Cohen, A., & Einav, L. (2007) · American Economic Review · doi:10.1257/aer.97.3.745 · Cited by 708
Observing Unobservables: Identifying Information Asymmetries With a Consumer Credit Field Experiment
(2009) · Econometrica · doi:10.3982/ecta5781 · Cited by 503
Selection on Moral Hazard in Health Insurance
Einav, L., Finkelstein, A., Ryan, S. P., Schrimpf, P., & Cullen, M. R. (2013) · American Economic Review · doi:10.1257/aer.103.1.178 · Cited by 417
Self-citationWhy is the market for long-term care insurance so small?
Brown, J. R., & Finkelstein, A. (2007) · Journal of Public Economics · doi:10.1016/j.jpubeco.2007.02.010 · Cited by 373
Self-citationSelection in Insurance Markets: Theory and Empirics in Pictures
Einav, L., & Finkelstein, A. (2011) · Journal of Economic Perspectives · doi:10.1257/jep.25.1.115 · Cited by 353
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Metadata
- Authors
- Finkelstein, A., & McGarry, K.
- Venue
- The American Economic Review
- Publisher
- American Economic Association
- Published
- 2006-09-01
- Volume
- 96
- Issue
- 4
- Pages
- 938-958
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W1969440363
- Cited by
- 701
- References
- 3
- FWCI
- 57.34
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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