Selection in insurance markets
Subtitle: theory and empirics in pictures
By: Liran Einav, Amy Finkelstein
Contributors: Finkelstein, Amy; National Bureau of Economic Research
Series: NBER working paper series -- working paper 16723; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16723.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] :
Description: "The NBER Bulletin on Aging and Health provides summaries of publications like this.  You can sign up to receive the NBER Bulletin on Aging and Health by email.  We present a graphical framework for analyzing both theoretical and empirical work on selection in insurance markets.  We begin by using this framework to review the "textbook" adverse selection environment and its implications for insurance allocation, social welfare, and public policy.  We then discuss several important extensions to this classical treatment that are necessitated by important real world features of insurance markets and which can be easily incorporated in the basic framework.  Finally, we use the same graphical approach to discuss the intuition behind recently developed empirical methods for testing for the existence of selection and examining its welfare consequences.  We conclude by discussing some important issues that are not well-handled by this framework and which, perhaps not unrelatedly, have been little addressed by the existing empirical work"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 4/28/2011.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.