Is there dynamic adverse selection in the life insurance market?
This paper finds evidence of dynamic adverse selection in the life insurance market. Lower-risk individuals are more likely to cancel a policy, and to cancel one of greater face value conditional on cancelation, than are individuals with higher mortality risk.
References listed on IDEAS
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- Igal Hendel & Alessandro Lizzeri, 2000.
"The Role of Commitment in Dynamic Contracts: Evidence from Life Insurance,"
NBER Working Papers
7470, National Bureau of Economic Research, Inc.
- Igal Hendel & Alessandro Lizzeri, 2003. "The Role Of Commitment In Dynamic Contracts: Evidence From Life Insurance," The Quarterly Journal of Economics, MIT Press, vol. 118(1), pages 299-327, February.
- Amy Finkelstein & Kathleen McGarry & Amir Sufi, 2005.
"Dynamic Inefficiencies in Insurance Markets: Evidence from Long-Term Care Insurance,"
American Economic Review,
American Economic Association, vol. 95(2), pages 224-228, May.
- Amy Finkelstein & Kathleen McGarry & Amir Sufi, 2005. "Dynamic Inefficiencies in Insurance Markets: Evidence from long-term care insurance," NBER Working Papers 11039, National Bureau of Economic Research, Inc.
- Cardon, James H & Hendel, Igal, 2001. "Asymmetric Information in Health Insurance: Evidence from the National Medical Expenditure Survey," RAND Journal of Economics, The RAND Corporation, vol. 32(3), pages 408-27, Autumn.
- Cochrane, John H, 1995. "Time-Consistent Health Insurance," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 445-73, June.
- He, Daifeng, 2009. "The life insurance market: Asymmetric information revisited," Journal of Public Economics, Elsevier, vol. 93(9-10), pages 1090-1097, October.
- Amy Finkelstein & Kathleen McGarry, 2006. "Multiple Dimensions of Private Information: Evidence from the Long-Term Care Insurance Market," American Economic Review, American Economic Association, vol. 96(4), pages 938-958, September.
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