Beyond Testing: Empirical Models of Insurance Markets
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Finkelstein_Beyond Testing.pdf
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240.64 KB
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Author(s)
Einav, Liran
Finkelstein, Amy
Levin, Jonathan
Date Issued
January 2010
Journal
Annual Review of Economics
Publisher
Annual Reviews
Citation
Einav, Liran, Amy Finkelstein, and Jonathan Levin. “Beyond Testing: Empirical Models of Insurance Markets.” Annual Review of Economics 2.1 (2010): 311-336.
Version
Author's final manuscript
Abstract
We describe recent advances in the empirical analysis of insurance markets. This new research proposes ways to estimate individual demand for insurance and the relationship between prices and insurer costs in the presence of adverse and advantageous selection. We discuss how these models permit the measurement of welfare distortions arising from asymmetric information and the welfare consequences of potential government policy responses. We also discuss some challenges in modeling imperfect competition between insurers and outline a series of open research questions.
Description
First published online as a Review in Advance on March 8, 2010
MIT Department
Massachusetts Institute of Technology. Department of Economics
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Creative Commons Attribution-Noncommercial-Share Alike 3.0
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DOI of Published Version
https://doi.org/10.1146/annurev.economics.050708.143254
