Lindbeck, Assar () (Institute for International Economic Studies, Stockholm University) Persson, Mats () (Institute for International Economic Studies, Stockholm University)
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A large literature on ex ante moral hazard in income insurance emphasizes that the individual can affect the probability of an income loss by choice of lifestyle and hence, the degree of risk-taking. The much smaller literature on moral hazard ex post mainly analyzes how a “moral hazard constraint†can make the individual abstain from fraud (“mimickingâ€). The present paper instead presents a model of moral hazard ex post without a moral hazard constraint; the individual's ability and willingness to work is represented by a continuous stochastic variable in the utility function, and the extent of moral hazard depends on the generosity of the insurance system. Our model is also well suited for analyzing social norms concerning work and benefit dependency.
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Paper provided by Stockholm University, Institute for International Economic Studies in its series Seminar Papers with number
742.
Length: 29 pages Date of creation: 14 Feb 2006 Date of revision: Handle: RePEc:hhs:iiessp:0742
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Find related papers by JEL classification: G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs I38 - Health, Education, and Welfare - - Welfare and Poverty - - - Government Programs; Provision and Effects of Welfare Programs J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Dionne, Georges, 1984.
"Search and Insurance,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(2), pages 357-67, June.
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Other versions:
Edward L. Glaeser & Bruce I. Sacerdote & Jose A. Scheinkman, 2002.
"The Social Multiplier,"
NBER Working Papers
9153, National Bureau of Economic Research, Inc.
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