Demand Heterogeneity in Insurance Markets: Implications for Equity and Efficiency
Author
Abstract
Suggested Citation
Note: AG HC HE PE
Download full text from publisher
Other versions of this item:
- Michael Geruso, 2017. "Demand heterogeneity in insurance markets: Implications for equity and efficiency," Quantitative Economics, Econometric Society, vol. 8(3), pages 929-975, November.
References listed on IDEAS
- Amy Finkelstein & James Poterba, 2004.
"Adverse Selection in Insurance Markets: Policyholder Evidence from the U.K. Annuity Market,"
Journal of Political Economy, University of Chicago Press, vol. 112(1), pages 183-208, February.
- Amy Finkelstein & James Poterba, 2000. "Adverse Selection in Insurance Markets: Policyholder Evidence from the U.K. Annuity Market," NBER Working Papers 8045, National Bureau of Economic Research, Inc.
- Alma Cohen & Liran Einav, 2007.
"Estimating Risk Preferences from Deductible Choice,"
American Economic Review, American Economic Association, vol. 97(3), pages 745-788, June.
- Alma Cohen & Liran Einav, 2005. "Estimating Risk Preferences from Deductible Choice," NBER Working Papers 11461, National Bureau of Economic Research, Inc.
- Alma Cohen & Liran Einav, 2005. "Estimating Risk Preferences from Deductible Choice," Discussion Papers 04-031, Stanford Institute for Economic Policy Research.
- Layton, Timothy J., 2017. "Imperfect risk adjustment, risk preferences, and sorting in competitive health insurance markets," Journal of Health Economics, Elsevier, vol. 56(C), pages 259-280.
- Thomas G. McGuire & Jacob Glazer, 2000. "Optimal Risk Adjustment in Markets with Adverse Selection: An Application to Managed Care," American Economic Review, American Economic Association, vol. 90(4), pages 1055-1071, September.
- Keith M. Marzilli Ericson & Amanda Starc, 2015.
"Pricing Regulation and Imperfect Competition on the Massachusetts Health Insurance Exchange,"
The Review of Economics and Statistics, MIT Press, vol. 97(3), pages 667-682, July.
- Keith M. Marzilli Ericson & Amanda Starc, 2012. "Pricing Regulation and Imperfect Competition on the Massachusetts Health Insurance Exchange," NBER Working Papers 18089, National Bureau of Economic Research, Inc.
- Martin B. Hackmann & Jonathan T. Kolstad & Amanda E. Kowalski, 2015.
"Adverse Selection and an Individual Mandate: When Theory Meets Practice,"
American Economic Review, American Economic Association, vol. 105(3), pages 1030-1066, March.
- Martin B. Hackmann & Jonathan T. Kolstad & Amanda E. Kowalski, 2013. "Adverse Selection and an Individual Mandate: When Theory Meets Practice," Cowles Foundation Discussion Papers 1899, Cowles Foundation for Research in Economics, Yale University.
- Martin B. Hackmann & Jonathan T. Kolstad & Amanda E. Kowalski, 2013. "Adverse Selection and an Individual Mandate: When Theory Meets Practice," NBER Working Papers 19149, National Bureau of Economic Research, Inc.
- Train,Kenneth E., 2009.
"Discrete Choice Methods with Simulation,"
Cambridge Books,
Cambridge University Press, number 9780521747387, December.
- Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521766555, December.
- Kenneth Train, 2003. "Discrete Choice Methods with Simulation," Online economics textbooks, SUNY-Oswego, Department of Economics, number emetr2.
- Finkelstein, Amy & Poterba, James & Rothschild, Casey, 2009.
"Redistribution by insurance market regulation: Analyzing a ban on gender-based retirement annuities,"
Journal of Financial Economics, Elsevier, vol. 91(1), pages 38-58, January.
- Amy Finkelstein & James Poterba & Casey Rothschild, 2006. "Redistribution by Insurance Market Regulation: Analyzing a Ban on Gender-Based Retirement Annuities," NBER Working Papers 12205, National Bureau of Economic Research, Inc.
- Timothy J. Layton & Randall P. Ellis & Thomas G. McGuire, 2015.
"Assessing Incentives for Adverse Selection in Health Plan Payment Systems,"
NBER Working Papers
21531, National Bureau of Economic Research, Inc.
- Timothy J. Layton & Randall P. Ellis & Thomas G. McGuire, 2015. "Assessing Incentives for Adverse Selection in Health Plan Payment Systems," Boston University - Department of Economics - Working Papers Series wp2015-024, Boston University - Department of Economics.
- Benjamin R. Handel, 2013. "Adverse Selection and Inertia in Health Insurance Markets: When Nudging Hurts," American Economic Review, American Economic Association, vol. 103(7), pages 2643-2682, December.
- 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.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Pietro Tebaldi & Alexander Torgovitsky & Hanbin Yang, 2019. "Nonparametric Estimates of Demand in the California Health Insurance Exchange," NBER Working Papers 25827, National Bureau of Economic Research, Inc.
- Layton, Timothy J. & McGuire, Thomas G. & van Kleef, Richard C., 2018.
"Deriving risk adjustment payment weights to maximize efficiency of health insurance markets,"
Journal of Health Economics, Elsevier, vol. 61(C), pages 93-110.
- Timothy J. Layton & Thomas G. McGuire & Richard C. van Kleef, 2016. "Deriving Risk Adjustment Payment Weights to Maximize Efficiency of Health Insurance Markets," NBER Working Papers 22642, National Bureau of Economic Research, Inc.
- Drake, Coleman, 2019. "What are consumers willing to pay for a broad network health plan?: Evidence from covered California," Journal of Health Economics, Elsevier, vol. 65(C), pages 63-77.
- Wiseman, Thomas, 2018. "Competitive long-term health insurance," Journal of Health Economics, Elsevier, vol. 58(C), pages 144-150.
- Geruso, Michael & Layton, Timothy J. & McCormack, Grace & Shepard, Mark, 2019.
"The Two Margin Problem in Insurance Markets,"
Working Paper Series
rwp19-035, Harvard University, John F. Kennedy School of Government.
- Michael Geruso & Timothy J. Layton & Grace McCormack & Mark Shepard, 2019. "The Two Margin Problem in Insurance Markets," NBER Working Papers 26288, National Bureau of Economic Research, Inc.
- Michael Geruso & Timothy J. Layton, 2017.
"Selection in Health Insurance Markets and Its Policy Remedies,"
Journal of Economic Perspectives, American Economic Association, vol. 31(4), pages 23-50, Fall.
- Michael Geruso & Timothy Layton, 2017. "Selection in Health Insurance Markets and Its Policy Remedies," NBER Working Papers 23876, National Bureau of Economic Research, Inc.
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.- Michael Geruso & Timothy J. Layton, 2017.
"Selection in Health Insurance Markets and Its Policy Remedies,"
Journal of Economic Perspectives, American Economic Association, vol. 31(4), pages 23-50, Fall.
- Michael Geruso & Timothy Layton, 2017. "Selection in Health Insurance Markets and Its Policy Remedies," NBER Working Papers 23876, National Bureau of Economic Research, Inc.
- Timothy J. Layton & Randall P. Ellis & Thomas G. McGuire, 2015.
"Assessing Incentives for Adverse Selection in Health Plan Payment Systems,"
Boston University - Department of Economics - Working Papers Series
wp2015-024, Boston University - Department of Economics.
- Timothy J. Layton & Randall P. Ellis & Thomas G. McGuire, 2015. "Assessing Incentives for Adverse Selection in Health Plan Payment Systems," NBER Working Papers 21531, National Bureau of Economic Research, Inc.
- Daniel McFadden & Carlos Noton & Pau Olivella, "undated".
"Remedies for Sick Insurance,"
Working Papers
620, Barcelona Graduate School of Economics.
- Daniel McFadden & Carlos Noton & Pau Olivella, 2013. "Remedies for Sick Insurance," Documentos de Trabajo 302, Centro de Economía Aplicada, Universidad de Chile.
- Daniel L. McFadden & Carlos E. Noton & Pau Olivella, 2012. "Remedies for Sick Insurance," NBER Working Papers 17938, National Bureau of Economic Research, Inc.
- Raj Chetty & Amy Finkelstein, 2012. "Social Insurance: Connecting Theory to Data," NBER Working Papers 18433, National Bureau of Economic Research, Inc.
- Finkelstein, Amy & Poterba, James & Rothschild, Casey, 2009.
"Redistribution by insurance market regulation: Analyzing a ban on gender-based retirement annuities,"
Journal of Financial Economics, Elsevier, vol. 91(1), pages 38-58, January.
- Amy Finkelstein & James Poterba & Casey Rothschild, 2006. "Redistribution by Insurance Market Regulation: Analyzing a Ban on Gender-Based Retirement Annuities," NBER Working Papers 12205, National Bureau of Economic Research, Inc.
- repec:hrv:faseco:34330197 is not listed on IDEAS
- Bernard Salanié, 2017.
"Equilibrium in Insurance Markets: An Empiricist’s View,"
The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 42(1), pages 1-14, March.
- Bernard Salanié, 2017. "Equilibrium in Insurance Markets: An Empiricist’s View," The Geneva Papers on Risk and Insurance Theory, Springer;International Association for the Study of Insurance Economics (The Geneva Association), vol. 42(1), pages 1-14, March.
- Przemysław Jeziorski & Elena Krasnokutskaya & Olivia Ceccarini, 2019. "Skimming from the Bottom: Empirical Evidence of Adverse Selection When Poaching Customers," Marketing Science, INFORMS, vol. 38(4), pages 543-566, July.
- Maria Polyakova, 2016.
"Regulation of Insurance with Adverse Selection and Switching Costs: Evidence from Medicare Part D,"
American Economic Journal: Applied Economics, American Economic Association, vol. 8(3), pages 165-195, July.
- Maria Polyakova, 2015. "Regulation of Insurance with Adverse Selection and Switching Costs: Evidence from Medicare Part D," NBER Working Papers 21541, National Bureau of Economic Research, Inc.
- Mark Cullen & Liran Einav & Amy Finkelstein, 2008.
"Estimating Welfare in Insurance Markets Using Variation in Prices,"
Discussion Papers
08-006, Stanford Institute for Economic Policy Research.
- Liran Einav & Amy Finkelstein & Mark R. Cullen, 2008. "Estimating Welfare in Insurance Markets Using Variation in Prices," NBER Working Papers 14414, National Bureau of Economic Research, Inc.
- Mark Cullen & Liran Einav & Amy Finkelstein, 2009. "Estimating Welfare in Insurance Markets Using Variation in Prices," Discussion Papers 08-046, Stanford Institute for Economic Policy Research.
- Hanming Fang & Michael P. Keane & Dan Silverman, 2008.
"Sources of Advantageous Selection: Evidence from the Medigap Insurance Market,"
Journal of Political Economy, University of Chicago Press, vol. 116(2), pages 303-350, April.
- Hanming Fang & Michael P. Keane & Dan Silverman, 2006. "Sources of Advantageous Selection: Evidence from the Medigap Insurance Market," NBER Working Papers 12289, National Bureau of Economic Research, Inc.
- Fang, Hanming & Keane, Michael & Silverman, Dan, 2006. "Sources of Advantageous Selection: Evidence from the Medigap Insurance Market," Working Papers 17, Yale University, Department of Economics.
- Geruso, Michael & Layton, Timothy J. & McCormack, Grace & Shepard, Mark, 2019.
"The Two Margin Problem in Insurance Markets,"
Working Paper Series
rwp19-035, Harvard University, John F. Kennedy School of Government.
- Michael Geruso & Timothy J. Layton & Grace McCormack & Mark Shepard, 2019. "The Two Margin Problem in Insurance Markets," NBER Working Papers 26288, National Bureau of Economic Research, Inc.
- Johannes Spinnewijn, 2017.
"Heterogeneity, Demand for Insurance, and Adverse Selection,"
American Economic Journal: Economic Policy, American Economic Association, vol. 9(1), pages 308-343, February.
- Johannes Spinnewijn, 2012. "Heterogeneity, Demand for Insurance and Adverse Selection," CEP Discussion Papers dp1142, Centre for Economic Performance, LSE.
- Spinnewijn, Johannes, 2012. "Heterogeneity, Demand for Insurance and Adverse Selection," CEPR Discussion Papers 8833, C.E.P.R. Discussion Papers.
- Spinnewijn, Johannes, 2017. "Heterogeneity, demand for insurance and adverseselection," LSE Research Online Documents on Economics 66511, London School of Economics and Political Science, LSE Library.
- Jonathan D. Ketcham & Nicolai V. Kuminoff & Christopher A. Powers, 2016. "Estimating the Heterogeneous Welfare Effects of Choice Architecture: An Application to the Medicare Prescription Drug Insurance Market," NBER Working Papers 22732, National Bureau of Economic Research, Inc.
- Tomas Pedro Sanguinetti, 2019. "How Do Couples Choose Individual Insurance Plans? Evidence from Medicare Part D," 2019 Papers psa1760, Job Market Papers.
- Alois Geyer & Daniela Kremslehner & Alexander Muermann, 2020. "Asymmetric Information in Automobile Insurance: Evidence From Driving Behavior," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(4), pages 969-995, December.
- Karl Ove Aarbu, 2017. "Asymmetric Information in the Home Insurance Market," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 84(1), pages 35-72, March.
- Benjamin R. Handel & Jonathan T. Kolstad & Johannes Spinnewijn, 2019.
"Information Frictions and Adverse Selection: Policy Interventions in Health Insurance Markets,"
The Review of Economics and Statistics, MIT Press, vol. 101(2), pages 326-340, May.
- Benjamin R. Handel & Jonathan T. Kolstad & Johannes Spinnewijn, 2015. "Information Frictions and Adverse Selection: Policy Interventions in Health Insurance Markets," CEP Discussion Papers dp1390, Centre for Economic Performance, LSE.
- Handel, Benjamin R. & Kolstad, Jonathan T. & Spinnewijn, Johannes, 2015. "Information frictions and adverse selection: policyinterventions in health insurance markets," LSE Research Online Documents on Economics 65011, London School of Economics and Political Science, LSE Library.
- Benjamin R. Handel & Jonathan T. Kolstad & Johannes Spinnewijn, 2015. "Information Frictions and Adverse Selection: Policy Interventions in Health Insurance Markets," CESifo Working Paper Series 5623, CESifo.
- Handel, Benjamin R. & Kolstad, Jonathan T. & Spinnewijn, Johannes, 2018. "Information frictions and adverse selection: policy interventions in health insurance markets," LSE Research Online Documents on Economics 87775, London School of Economics and Political Science, LSE Library.
- Benjamin R. Handel & Jonathan T. Kolstad & Johannes Spinnewijn, 2015. "Information Frictions and Adverse Selection: Policy Interventions in Health Insurance Markets," NBER Working Papers 21759, National Bureau of Economic Research, Inc.
- Handel, Benjamin R. & Kolstad, Jonathan & Spinnewijn, Johannes, 2015. "Information Frictions and Adverse Selection: Policy Interventions in Health Insurance Markets," CEPR Discussion Papers 10953, C.E.P.R. Discussion Papers.
- Matthew Panhans, 2019. "Adverse Selection in ACA Exchange Markets: Evidence from Colorado," American Economic Journal: Applied Economics, American Economic Association, vol. 11(2), pages 1-36, April.
- Li Donni, P., 2010.
"Risk Preference Heterogeneity And Multiple Demand For Insurance,"
Health, Econometrics and Data Group (HEDG) Working Papers
10/17, HEDG, c/o Department of Economics, University of York.
- Thomas, RA & Li Donni, P, 2014. "Risk preference heterogeneity and multiple demand for insurance," Working Papers 18674, Imperial College, London, Imperial College Business School.
- Jonathan Gruber, 2017. "Delivering Public Health Insurance through Private Plan Choice in the United States," Journal of Economic Perspectives, American Economic Association, vol. 31(4), pages 3-22, Fall.
More about this item
JEL classification:
- I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
- I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CTA-2016-08-14 (Contract Theory & Applications)
- NEP-IAS-2016-08-14 (Insurance Economics)
- NEP-MKT-2016-08-14 (Marketing)
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:nbr:nberwo:22440. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://edirc.repec.org/data/nberrus.html .
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 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.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.