The Role of Commitment in Dynamic Contracts: Evidence from Life Insurance
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- 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.
References listed on IDEAS
- Dionne, Georges & Doherty, Neil A, 1994.
"Adverse Selection, Commitment, and Renegotiation: Extension to and Evidence from Insurance Markets,"
Journal of Political Economy, University of Chicago Press, vol. 102(2), pages 209-235, April.
- Dionne, G. & Doherty, N., 1991. "Adverse Selection, Commitment and Renegotiation : Extention to and Evidence From Insurance Markets," Cahiers de recherche 9134, Universite de Montreal, Departement de sciences economiques.
- Dionne, G. & Doherty, N.A., 1993. "Adverse Selection, Commitment and Renegotiation: Extension to and Evidence from Insurance Markets," Papers 9301, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor..
- Dionne, G. & Doherty, N., 1991. "Adverse Selection, Commitment and Renegotiation : Extention to and Evidence From Insurance Markets," Cahiers de recherche 9134, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Fudenberg, Drew & Holmstrom, Bengt & Milgrom, Paul, 1990.
"Short-term contracts and long-term agency relationships,"
Journal of Economic Theory, Elsevier, vol. 51(1), pages 1-31, June.
- Drew Fudenberg & Bengt Holmstrom & Paul Milgrom, 1987. "Short-Term Contracts and Long-Term Agency Relationships," Working papers 468, Massachusetts Institute of Technology (MIT), Department of Economics.
- repec:dau:papers:123456789/5369 is not listed on IDEAS
- Kevin J. Murphy, 1986. "Incentives, Learning, and Compensation: A Theoretical and Empirical Investigation of Managerial Labor Contracts," RAND Journal of Economics, The RAND Corporation, vol. 17(1), pages 59-76, Spring.
- Dionne, G. & Doherty, N., 1991.
"Adverse Selection in Insurance Markets: a Selective Survey,"
Cahiers de recherche
9105, Universite de Montreal, Departement de sciences economiques.
- Dionne, G. & Doherty, N., 1991. "Adverse Selection In Insurance Markets: A Selective Survey," Cahiers de recherche 9105, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Diamond, Peter, 1992. "Organizing the Health Insurance Market," Econometrica, Econometric Society, vol. 60(6), pages 1233-1254, November.
- Pierre-Andre Chiappori & Bernard Salanie & Julie Valentin, 1999. "Early Starters versus Late Beginners," Journal of Political Economy, University of Chicago Press, vol. 107(4), pages 731-760, August.
- Chiappori, Pierre-Andre & Macho, Ines & Rey, Patrick & Salanie, Bernard, 1994.
"Repeated moral hazard: The role of memory, commitment, and the access to credit markets,"
European Economic Review, Elsevier, vol. 38(8), pages 1527-1553, October.
- Chiappori, P.A. & Macho, I. & Rey, P. & Salanié, B., 1989. "Repeated Moral Hazard: The Role of Memory, Commitment, and the Access to Credit Markets," DELTA Working Papers 89-18, DELTA (Ecole normale supérieure).
- Chiappori, P.A. & Macho, I. & Rey, p. & Salanie, B., 1994. "Repeated Moral Hazard: The Role of Memory, Commitment, and the Acces to Credit Markets," Papers 06, Laval - Laboratoire Econometrie.
- Cochrane, John H, 1995. "Time-Consistent Health Insurance," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 445-473, June.
- Milton Harris & Bengt Holmstrom, 1982. "A Theory of Wage Dynamics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 49(3), pages 315-333.
- David M. Cutler, 1993. "Why Doesn't the Market Fully Insure Long-Term Care?," NBER Working Papers 4301, National Bureau of Economic Research, Inc.
- Tomas Philipson & John Cawley, 1999.
"An Empirical Examination of Information Barriers to Trade in Insurance,"
American Economic Review, American Economic Association, vol. 89(4), pages 827-846, September.
- John Cawley & Tomas Philipson, 1996. "An Empirical Examination of Information Barriers to Trade in Insurance," NBER Working Papers 5669, National Bureau of Economic Research, Inc.
- Cawley, John & Philipson, Tomas J., 1997. "An Empirical Examination of Information Barriers to Trade in Insurance," Working Papers 132, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
- Pauly, Mark V & Kunreuther, Howard & Hirth, Richard, 1995. "Guaranteed Renewability in Insurance," Journal of Risk and Uncertainty, Springer, vol. 10(2), pages 143-156, March.
- Benjamin M. Friedman & Mark Warshawsky, 1985. "The Cost of Annuities: Implications for Saving Behavior and Bequests," NBER Working Papers 1682, National Bureau of Economic Research, Inc.
- Milton Harris & Bengt Holmstrom, 1982.
"A Theory of Wage Dynamics,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 49(3), pages 315-333.
- Milton Harris & Bengt Holmstrom, 1981. "A Theory of Wage Dynamics," Discussion Papers 488, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Pierre-André Chiappori & Bernard Salanié, 2002.
"Testing Contract Theory : A Survey of Some Recent Work,"
Working Papers
2002-11, Center for Research in Economics and Statistics.
- Pierre André Chiappori & Bernard Salanié, 2002. "Testing Contract Theory: A Survey of Some Recent Work," CESifo Working Paper Series 738, CESifo.
- Magali Chaudey, 2017. "Why test the theory of incentives in a dynamic framework?," Working Papers 1733, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
- Michael Hoy & Afrasiab Mirza & Asha Sadanand, 2021.
"Guaranteed renewable life insurance under demand uncertainty,"
Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 88(1), pages 131-159, March.
- Michael Hoy & Afrasiab Mirza & Asha Sadanand, 2018. "Guaranteed Renewable Life Insurance Under Demand Uncertainty," CESifo Working Paper Series 7103, CESifo.
- Juan Pablo Atal & Hanming Fang & Martin Karlsson & Nicolas R. Ziebarth, 2020.
"Long-Term Health Insurance: Theory Meets Evidence,"
PIER Working Paper Archive
20-009, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Atal, Juan Pablo & Fang, Hanming & Karlsson, Martin & Ziebarth, Nicolas R., 2021. "Long-term health insurance: Theory meets evidence," ZEW Discussion Papers 21-094, ZEW - Leibniz Centre for European Economic Research.
- Juan Pablo Atal & Hanming Fang & Martin Karlsson & Nicolas R. Ziebarth, 2020. "Long-Term Health Insurance: Theory Meets Evidence," CINCH Working Paper Series 2001, Universitaet Duisburg-Essen, Competent in Competition and Health.
- Marco Battaglini, 2005.
"Long-Term Contracting with Markovian Consumers,"
American Economic Review, American Economic Association, vol. 95(3), pages 637-658, June.
- Marco Battaglini, 2003. "Long-Term Contracting with Markovian Consumers," Theory workshop papers 505798000000000048, UCLA Department of Economics.
- Ruo Jia & Zenan Wu, 2019. "Insurer commitment and dynamic pricing pattern," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 44(1), pages 87-135, March.
- Annette Hofmann & Mark Browne, 2013. "One-sided commitment in dynamic insurance contracts: Evidence from private health insurance in Germany," Journal of Risk and Uncertainty, Springer, vol. 46(1), pages 81-112, February.
- Ruo Jia & Zenan Wu, 2019. "Insurer commitment and dynamic pricing pattern," The Geneva Papers on Risk and Insurance Theory, Springer;International Association for the Study of Insurance Economics (The Geneva Association), vol. 44(1), pages 87-135, March.
- Kifmann, Mathias, 1997. "To commit or not to commit: A health insurance monopoly with variable quality and uncertain types of individuals," Discussion Papers, Series I 288, University of Konstanz, Department of Economics.
- Sebastián Fleitas & Gautam Gowrisankaran & Anthony Lo Sasso, 2018.
"Reclassification Risk in the Small Group Health Insurance Market,"
NBER Working Papers
24663, National Bureau of Economic Research, Inc.
- Fleitas, Sebastian & Gowrisankaran, Gautam & Lo Sasso, Anthony, 2020. "Reclassification Risk in the Small Group Health Insurance Market," CEPR Discussion Papers 14394, C.E.P.R. Discussion Papers.
- Robert Gibbons & Lawrence F. Katz & Thomas Lemieux & Daniel Parent, 2005.
"Comparative Advantage, Learning, and Sectoral Wage Determination,"
Journal of Labor Economics, University of Chicago Press, vol. 23(4), pages 681-724, October.
- Robert Gibbons & Lawrence F. Katz & Thomas Lemieux & Daniel Parent, 2002. "Comparative Advantage, Learning, and Sectoral Wage Determination," NBER Working Papers 8889, National Bureau of Economic Research, Inc.
- Robert Gibbons & Lawrence F. Katz & Thomas Lemieux & Daniel Parent, 2002. "Comparative Advantage, Learning, and Sectoral Wage Determination," CIRANO Working Papers 2002s-35, CIRANO.
- Katz, Lawrence & Gibbons, Robert & Lemieux, Thomas & Parent, Daniel, 2005. "Comparative Advantage, Learning, and Sectoral Wage Determination," Scholarly Articles 2766651, Harvard University Department of Economics.
- Wiseman, Thomas, 2018. "Competitive long-term health insurance," Journal of Health Economics, Elsevier, vol. 58(C), pages 144-150.
- Hartog, Joop & Raposo, Pedro, 2017.
"Are starting wages reduced by an insurance premium for preventing wage decline? Testing the prediction of Harris and Holmstrom (1982),"
Labour Economics, Elsevier, vol. 48(C), pages 105-119.
- Hartog, Joop & Raposo, Pedro, 2015. "Are Starting Wages Reduced by an Insurance Premium for Preventing Wage Decline? Testing the Prediction of Harris and Holmstrom (1982)," IZA Discussion Papers 9578, Institute of Labor Economics (IZA).
- Catherine Haeck & Frank Verboven, 2012.
"The Internal Economics of a University: Evidence from Personnel Data,"
Journal of Labor Economics, University of Chicago Press, vol. 30(3), pages 591-626.
- Verboven, Frank & Haeck, Catherine, 2010. "The Internal Economics of a University - Evidence from Personnel Data," CEPR Discussion Papers 7843, C.E.P.R. Discussion Papers.
- Catherine HAECK & Frank VERBOVEN, 2010. "The internal economics of a university - evidence from personnel data," Working Papers of Department of Economics, Leuven ces10.18, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
- Kräkel, Matthias & Schöttner, Anja, 2008.
"Relative Performance Pay, Bonuses, and Job-Promotion Tournaments,"
IZA Discussion Papers
3702, Institute of Labor Economics (IZA).
- Kräkel, Matthias & Schöttner, Anja, 2008. "Relative Performance Pay, Bonuses, and Job-Promotion Tournaments," Bonn Econ Discussion Papers 16/2008, University of Bonn, Bonn Graduate School of Economics (BGSE).
- Kräkel, Matthias & Schöttner, Anja, 2008. "Relative Performance Pay, Bonuses, and Job-Promotion Tournaments," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 245, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Robert Gibbons & Michael Waldman, 1998. "A Theory of Wage and Promotion Dynamics in Internal Labor Markets," NBER Working Papers 6454, National Bureau of Economic Research, Inc.
- repec:eee:labchp:v:3:y:1999:i:pb:p:2373-2437 is not listed on IDEAS
- Krueger, Dirk & Uhlig, Harald, 2006.
"Competitive risk sharing contracts with one-sided commitment,"
Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1661-1691, October.
- Dirk Krueger & Harald Uhlig, 2003. "Competitive Risk Sharing Contracts with One-Sided Commitment," Levine's Bibliography 666156000000000407, UCLA Department of Economics.
- Uhlig, Harald & Krueger, Dirk, 2005. "Competitive risk sharing contracts with one-sided commitment," SFB 649 Discussion Papers 2005-003, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
- Uhlig, Harald & Krueger, Dirk, 2004. "Competitive Risk Sharing Contracts with One-Sided Commitment," CEPR Discussion Papers 4208, C.E.P.R. Discussion Papers.
- Dirk Krueger & Harald Uhlig, 2003. "Competitive Risk Sharing Contracts with One-Sided Commitment," NBER Working Papers 10135, National Bureau of Economic Research, Inc.
- Krueger, Dirk & Uhlig, Harald, 2005. "Competitive risk sharing contracts with one-sided commitment," CFS Working Paper Series 2005/07, Center for Financial Studies (CFS).
- Stephanie Lluis, 2005.
"The Role of Comparative Advantage and Learning in Wage Dynamics and Intrafirm Mobility: Evidence from Germany,"
Journal of Labor Economics, University of Chicago Press, vol. 23(4), pages 725-768, October.
- Stephanie Lluis, "undated". "The Role of Comparative Advantage and Learning in Wage Dynamics and Intra-Firm Mobility: Evidence from Germany," Working Papers 0103, Human Resources and Labor Studies, University of Minnesota (Twin Cities Campus).
- Stéphanie Lluis, 2002. "The Role of Comparative Advantage and Learning in Wage Dynamics and Intrafirm Mobility: Evidence from Germany," 10th International Conference on Panel Data, Berlin, July 5-6, 2002 C2-3, International Conferences on Panel Data.
- Soheil Ghili & Ben Handel & Igal Hendel & Michael D. Whinston, 2019. "Optimal Long-Term Health Insurance Contracts: Characterization, Computation, and Welfare Effects," Cowles Foundation Discussion Papers 2218R, Cowles Foundation for Research in Economics, Yale University, revised Jul 2020.
- Patrick Bolton & Neng Wang & Jinqiang Yang, 2019.
"Optimal Contracting, Corporate Finance, and Valuation with Inalienable Human Capital,"
Journal of Finance, American Finance Association, vol. 74(3), pages 1363-1429, June.
- Patrick Bolton & Neng Wang & Jinqiang Yang, 2015. "Optimal Contracting, Corporate Finance, and Valuation with Inalienable Human Capital," NBER Working Papers 20979, National Bureau of Economic Research, Inc.
More about this item
JEL classification:
- L0 - Industrial Organization - - General
- D4 - Microeconomics - - Market Structure, Pricing, and Design
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:qjecon:v:118:y:2003:i:1:p:299-328.. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/qje .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.