More on the optimal demand for long-term care insurance
The demand for long-term care (LTC) insurance depends – among other things – on the relationship between potential policyholders and their relatives since the latter may informally provide LTC that is otherwise purchased on the market. The combined effects of intra-family moral hazard and altruism on LTC insurance purchase are examined in this paper. First, the interaction between LTC insurance and informal care supply are determined. Then the effects of the policyholders’ wealth, the policyholders’ quality of life and the informal care givers’ quality of life on this interaction are analysed. Finally, the conditions under which a two-sided intra-family moral hazard occurs are investigated.
|Date of creation:||Dec 2012|
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- Amy Finkelstein & Erzo F. P. Luttmer & Matthew J. Notowidigdo, 2009.
"Approaches to Estimating the Health State Dependence of the Utility Function,"
American Economic Review,
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- Finkelstein, Amy & Luttmer, Erzo F.P. & Notowidigdo, Matthew J., 2009. "Approaches to Estimating the Health State Dependence of the Utility Function," IZA Discussion Papers 3925, Institute for the Study of Labor (IZA).
- Finkelstein, Amy N. & Luttmer, Erzo F. P. & Notowidigdo, Matthew J., 2009. "Approaches to Estimating the Health State Dependence of the Utility Function," Working Paper Series rwp09-002, Harvard University, John F. Kennedy School of Government.
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- L. Eeckhoudt & H. Schlesinger & Béatrice Rey, 2007. "A good sign for multivariate risk taking," Post-Print hal-00283446, HAL.
- Louis Eeckhoudt & Béatrice Rey & Harris Schlesinger, 2006. "A Good Sign for Multivariate Risk Taking," CESifo Working Paper Series 1796, CESifo Group Munich.
- Béatrice Rey, 2003. "A Note on Optimal Insurance in the presence of a Nonpecuniary Background Risk," Theory and Decision, Springer, vol. 54(1), pages 73-83, February.
- Mellor, Jennifer M., 2001. "Long-term care and nursing home coverage: are adult children substitutes for insurance policies?," Journal of Health Economics, Elsevier, vol. 20(4), pages 527-547, July.
- Denis Kessler, 2010. "Confronting the Challenge of Long-term Care in Europe," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(2), pages 18-23, 07.
- Louis Eeckhoudt & Harris Schlesinger, 2006. "Putting Risk in Its Proper Place," American Economic Review, American Economic Association, vol. 96(1), pages 280-289, March.
- EECKHOUDT, Louis & SCHLESINGER, Harris, "undated". "Putting risk in its proper place," CORE Discussion Papers RP 1871, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Louis Eeckhoudt & Harris Schlesinger, 2005. "Putting Risk in its Proper Place," CESifo Working Paper Series 1462, CESifo Group Munich.
- L. Eeckhoudt & H. Schlesinger, 2006. "Putting risk in its proper place," Post-Print hal-00283170, HAL.
- Pauly, Mark V, 1990. "The Rational Nonpurchase of Long-term-Care Insurance," Journal of Political Economy, University of Chicago Press, vol. 98(1), pages 153-168, February.
- Evans, William N & Viscusi, W Kip, 1991. "Estimation of State-Dependent Utility Functions Using Survey Data," The Review of Economics and Statistics, MIT Press, vol. 73(1), pages 94-104, February.
- Christophe Courbage & Peter Zweifel, 2011. "Two-sided intergenerational moral hazard, long-term care insurance, and nursing home use," Journal of Risk and Uncertainty, Springer, vol. 43(1), pages 65-80, August. Full references (including those not matched with items on IDEAS)
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