Workers' Compensation and Moral Hazard
AbstractTwo types of moral hazard have been determined. The first type is related to self-prevention activities affecting probabilities of accidents. The second type relates to the agent's activities whenever the accident occurs. The authors' objective consists of presenting an empirical measure of the significance of this second type of moral hazard in the workers' compensation market. The main challenge in isolating moral hazard consists of dividing into two parts the total variation in recovery time with respect to changes in insurance coverage: (1) the variation of consumption corresponding to a given level of information; and (2) the variation of consumption due to greater asymmetrical information. The methodology used in this study separates these two variations. Copyright 1991 by MIT Press.
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Bibliographic InfoArticle provided by MIT Press in its journal Review of Economics & Statistics.
Volume (Year): 73 (1991)
Issue (Month): 2 (May)
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Web page: http://mitpress.mit.edu/journals/
Other versions of this item:
- Dionne, G. & St-Michel, P., 1988. "Workers' Compensation and Moral Hazard," Cahiers de recherche, Universite de Montreal, Departement de sciences economiques 8831, Universite de Montreal, Departement de sciences economiques.
- Dionne, G. & St-Michel, P., 1988. "Workers' Compensation And Moral Hazard," Cahiers de recherche, Centre interuniversitaire de recherche en Ã©conomie quantitative, CIREQ 8831, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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