NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Archive of NBER Papers on Insurance

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2014
w20812 Keith Marzilli Ericson
Amanda Starc

Measuring Consumer Valuation of Limited Provider Networks
w20745 Lee M. Lockwood
Incidental Bequests: Bequest Motives and the Choice to Self-Insure Late-Life Risks
w20691 Markus K. Brunnermeier
Alp Simsek
Wei Xiong

A Welfare Criterion for Models with Distorted Beliefs
w20679 Frank A. Sloan
Patricia A. Robinson
Lindsey M. Eldred

Does Private Information Influence Automobile Insurance Purchase Decisions?
w20669 Attila Ambrus
Arun G. Chandrasekhar
Matt Elliott

Social Investments, Informal Risk Sharing, and Inequality
w20614 Raimond Maurer
Olivia S. Mitchell
Ralph Rogalla
Tatjana Schimetschek

Will They Take the Money and Work? An Empirical Analysis of People's Willingness to Delay Claiming Social Security Benefits for a Lump Sum
w20597 Amanda E. Kowalski
The Early Impact of the Affordable Care Act State-By-State
w20549 Hanming Fang
Insurance Markets for the Elderly
w20477 Abhijit Banerjee
Esther Duflo
Richard Hornbeck

(Measured) Profit is Not Welfare: Evidence from an Experiment on Bundling Microcredit and Insurance
w20470 Marika Cabral
Michael Geruso
Neale Mahoney

Does Privatized Health Insurance Benefit Patients or Producers? Evidence from Medicare Advantage
w20411 Neale Mahoney
E. Glen Weyl

Imperfect Competition in Selection Markets
w20371 Melissa A. Boyle
Joanna N. Lahey

Spousal Labor Market Effects from Government Health Insurance: Evidence from a Veterans Affairs Expansion
w20352 Solomon M. Hsiang
Amir S. Jina

The Causal Effect of Environmental Catastrophe on Long-Run Economic Growth: Evidence From 6,700 Cyclones
w20359 Michael Geruso
Thomas G. McGuire

Tradeoffs in the Design of Health Plan Payment Systems: Fit, Power and Balance
w20318 Brigitte C. Madrian
Applying Insights from Behavioral Economics to Policy Design
w20275 Weerachart T. Kilenthong
Robert M. Townsend

A Market Based Solution to Price Externalities: A Generalized Framework
w20239 Felipe Kast
Dina Pomeranz

Saving More to Borrow Less: Experimental Evidence from Access to Formal Savings Accounts in Chile
w20223 Mark Pauly
Scott Harrington
Adam Leive

"Sticker Shock" in Individual Insurance under Health Reform
w20226 Liran Einav
Amy Finkelstein
Heidi Williams

Paying on the Margin for Medical Care: Evidence from Breast Cancer Treatments
w20124 Raimond Maurer
Olivia S. Mitchell
Ralph Rogalla
Ivonne Siegelin

Accounting and Actuarial Smoothing of Retirement Payouts in Participating Life Annuities
w20086 Robert Townsend
Weerachart Kilenthong

Segregated Security Exchanges with Ex Ante Rights to Trade: A Market-Based Solution to Collateral-Constrained Externalities
w19998 Jacob Glazer
Thomas McGuire
Julie Shi

Risk Adjustment of Health Plan Payments to Correct Inefficient Plan Choice from Adverse Selection
w19954 Silvia H. Barcellos
Mireille Jacobson

The Effects of Medicare on Medical Expenditure Risk and Financial Strain
w19904 Jeffrey Clemens
Regulatory Redistribution in the Market for Health Insurance
w19835 Florian Scheuer
Kent Smetters

Could a Website Really Have Doomed the Health Exchanges? Multiple Equilibria, Initial Conditions and the Construction of the Fine
w19879 Steven Shavell
Risk Aversion and the Desirability of Attenuated Legal Change
w19787 Marika Cabral
Neale Mahoney

Externalities and Taxation of Supplemental Insurance: A Study of Medicare and Medigap
2013
w19761 Jeffrey Clemens
The Effect of U.S. Health Insurance Expansions on Medical Innovation
w19719 Pinar Karaca-Mandic
Jean M. Abraham
Kosali Simon
Roger Feldman

Going into the Affordable Care Act: Measuring the Size, Structure and Performance of the Individual and Small Group Markets for Health Insurance
w19732 Hugh Hoikwang Kim
Raimond Maurer
Olivia S. Mitchell

Time is Money: Life Cycle Rational Inertia and Delegation of Investment Management
w19629 Xi Wu
Li Gan

Multiple Dimensions of Private Information in Life Insurance Markets
w19568 Ralph S.J. Koijen
Motohiro Yogo

Shadow Insurance
w19583 Andreas Hubener
Raimond Maurer
Olivia S. Mitchell

How Family Status and Social Security Claiming Options Shape Optimal Life Cycle Portfolios
w19511 Robert Clark
Olivia S. Mitchell

How Does Retiree Health Insurance Influence Public Sector Employee Saving?
w19527 Keith M Marzilli Ericson
Amanda Starc

How Product Standardization Affects Choice: Evidence from the Massachusetts Health Insurance Exchange
w19500 Kent Smetters
Xingtan Zhang

A Sharper Ratio: A General Measure for Correctly Ranking Non-Normal Investment Risks
w19503 Jeffrey Clemens
Joshua D. Gottlieb

In the Shadow of a Giant: Medicare's Influence on Private Physician Payments
w19399 Benjamin R. Handel
Igal Hendel
Michael D. Whinston

Equilibria in Health Exchanges: Adverse Selection vs. Reclassification Risk
w19373 Benjamin R. Handel
Jonathan T. Kolstad

Health Insurance for "Humans": Information Frictions, Plan Choice, and Consumer Welfare
w19386 Rong Hai
Dirk Krueger
Andrew Postlewaite

On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods
w19342 Pinar Karaca-Mandic
Roger Feldman
Peter Graven

The Role of Agents and Brokers in the Market for Health Insurance
w19296 Marco Bassetto
Marco Cagetti
Mariacristina De Nardi

Credit Crunches and Credit Allocation in a Model of Entrepreneurship
w19317 Joseph Stiglitz
Jungyoll Yun

Optimality and Equilibrium In a Competitive Insurance Market Under Adverse Selection and Moral Hazard
w19211 Felix Reichling
Kent Smetters

Optimal Annuitization with Stochastic Mortality Probabilities
w19161 Dhaval M. Dave
Sandra L. Decker
Robert Kaestner
Kosali Ilayperuma Simon

The Effect of Medicaid Expansions in the Late 1980s and Early 1990s on the Labor Supply of Pregnant Women
w19168 Jeffrey R. Brown
Arie Kapteyn
Erzo F.P. Luttmer
Olivia S. Mitchell

Cognitive Constraints on Valuing Annuities
w19149 Martin B. Hackmann
Jonathan T. Kolstad
Amanda E. Kowalski

Adverse Selection and an Individual Mandate: When Theory Meets Practice
w19063 Jeffrey R. Brown
Jeffrey R. Kling
Sendhil Mullainathan
Marian V. Wrobel

Framing Lifetime Income
w19032 Jingjing Chai
Raimond Maurer
Olivia S. Mitchell
Ralph Rogalla

Exchanging Delayed Social Security Benefits for Lump Sums: Could This Incentivize Longer Work Careers?
w19035 Liran Einav
Jonathan D. Levin

The Data Revolution and Economic Analysis
w18909 Bo Becker
Victoria Ivashina

Reaching for Yield in the Bond Market
w18913 Keith Marzilli Ericson
Judd B. Kessler

The Articulation Effect of Government Policy: Health Insurance Mandates Versus Taxes
w18869 Bruce D. Meyer
Wallace K.C. Mok

Disability, Earnings, Income and Consumption
w18875 Gautam Gowrisankaran
Aviv Nevo
Robert Town

Mergers When Prices are Negotiated: Evidence from the Hospital Industry
w18755 Jeffrey R. Brown
Zoran Ivković
Scott Weisbenner

Empirical Determinants of Intertemporal Choice
w18743 Stephen G. Dimmock
Roy Kouwenberg
Olivia S. Mitchell
Kim Peijnenburg

Ambiguity Aversion and Household Portfolio Choice: Empirical Evidence
w18698 Naoki Aizawa
Hanming Fang

Equilibrium Labor Market Search and Health Insurance Reform
w18669 Annamaria Lusardi
Pierre-Carl Michaud
Olivia S. Mitchell

Optimal Financial Knowledge and Wealth Inequality
2012
w18621 Nicholas C. Barberis
Thirty Years of Prospect Theory in Economics: A Review and Assessment
w18601 Daniel Gottlieb
Kent Smetters

Narrow Framing and Life Insurance
w18471 Nick Netzer
Florian Scheuer

A Game Theoretic Foundation of Competitive Equilibria with Adverse Selection
w18468 Katherine Baicker
Sendhil Mullainathan
Joshua Schwartzstein

Behavioral Hazard in Health Insurance
w18444 Isaac Ehrlich
Yong Yin

The Problem of the Uninsured
w18342 Jeffrey R. Brown
Scott Weisbenner

The Distributional Effects of the Social Security Windfall Elimination Provision
w18309 Bruce D. Meyer
Laura R. Wherry

Saving Teens: Using a Policy Discontinuity to Estimate the Effects of Medicaid Eligibility
w18321 Ralph S.J. Koijen
Motohiro Yogo

The Cost of Financial Frictions for Life Insurers
w18282 Nathaniel Hendren
Private Information and Insurance Rejections
w18286 Leemore Dafny
Subramaniam Ramanarayanan

Does it Matter if Your Health Insurer is For-Profit? Effects of Ownership on Premiums, Insurance Coverage, and Medical Spending
w18172 David Autor
Mark Duggan
Jonathan Gruber

Moral Hazard and Claims Deterrence in Private Disability Insurance
w18105 Neale Mahoney
Bankruptcy as Implicit Health Insurance
w17899 Hanming Fang
Edward Kung

Why Do Life Insurance Policyholders Lapse? The Roles of Income, Health and Bequest Motive Shocks
w17893 Charles J. Courtemanche
Daniela Zapata

Does Universal Coverage Improve Health? The Massachusetts Experience
w17857 Robin McKnight
Jonathan Reuter
Eric Zitzewitz

Insurance as Delegated Purchasing: Theory and Evidence from Health Care
2011
w17600 John Cawley
Asako S. Moriya
Kosali I. Simon

The Impact of the Macroeconomy on Health Insurance Coverage: Evidence from the Great Recession
w17505 Vasily Kartashov
Raimond Maurer
Olivia S. Mitchell
Ralph Rogalla

Lifecycle Portfolio Choice with Systematic Longevity Risk and Variable Investment-Linked Deferred Annuities
w17410 Jeffrey R. Kling
Sendhil Mullainathan
Eldar Shafir
Lee Vermeulen
Marian Wrobel

Comparison Friction: Experimental Evidence from Medicare Drug Plans
w17325 Ralph Koijen
Stijn Van Nieuwerburgh
Motohiro Yogo

Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice
w17047 David Card
Stefano DellaVigna
Ulrike Malmendier

The Role of Theory in Field Experiments
w17018 Jeffrey R. Brown
Arie Kapteyn
Olivia S. Mitchell

Framing Effects and Expected Social Security Claiming Behavior
w17000 Viral V. Acharya
Alberto Bisin

Counterparty Risk Externality: Centralized Versus Over-the-counter Markets
w16969 Liran Einav
Amy Finkelstein
Stephen P. Ryan
Paul Schrimpf
Mark R. Cullen

Selection on Moral Hazard in Health Insurance
w16879 Ernst R. Berndt
Thomas G. McGuire
Joseph P. Newhouse

A Primer on the Economics of Prescription Pharmaceutical Pricing in Health Insurance Markets
w16792 Jeffrey R. Brown
Robert Clark
Joshua Rauh

The Economics of State and Local Public Pensions
w16709 Ethan Ligon
Supply and Effects of Specialty Crop Insurance
w16696 Pierre-André Chiappori
Krislert Samphantharak
Sam Schulhofer-Wohl
Robert M. Townsend

Heterogeneity and Risk Sharing in Village Economies
2010
w16467 John Cawley
Chad Meyerhoefer

The Medical Care Costs of Obesity: An Instrumental Variables Approach
w16406 Gopi Shah Goda
The Impact of State Tax Subsidies for Private Long-Term Care Insurance on Coverage and Medicaid Expenditures
w16155 Gary V. Engelhardt
Jonathan Gruber

Medicare Part D and the Financial Protection of the Elderly
w16094 Patrick Bolton
Christopher Harris

The Dynamics of Optimal Risk Sharing
w15961 John J. Horton
David G. Rand
Richard J. Zeckhauser

The Online Laboratory: Conducting Experiments in a Real Labor Market
w15761 Hanming Fang
Edward Kung

How Does Life Settlement Affect the Primary Life Insurance Market?
2009
w15586 Alma Cohen
Peter Siegelman

Testing for Adverse Selection in Insurance Markets
w15396 Hongbin Cai
Yuyu Chen
Hanming Fang
Li-An Zhou

Microinsurance, Trust and Economic Development: Evidence from a Randomized Natural Field Experiment
w15164 David M. Cutler
Bryan Lincoln
Richard J. Zeckhauser

Selection Stories: Understanding Movement Across Health Plans
w15100 Haitao Yin
Howard Kunreuther
Matthew White

Risk-Based Pricing and Risk-Reducing Effort: Does the Private Insurance Market Reduce Environmental Accidents?
w14888 John Whalley
Yufei Yuan

Global Financial Structure and Climate Change
w14679 Nicole Maestas
Mathis Schroeder
Dana Goldman

Price Variation in Markets with Homogeneous Goods: The Case of Medigap
2008
w14403 Raj Chetty
Emmanuel Saez

Optimal Taxation and Social Insurance with Endogenous Private Insurance
w14359 Lawrence H. Summers
Richard J. Zeckhauser

Policymaking for Posterity
w13967 Raj Chetty
Moral Hazard vs. Liquidity and Optimal Unemployment Insurance
w13748 Jeffrey R. Brown
Jeffrey R. Kling
Sendhil Mullainathan
Marian V. Wrobel

Why Don't People Insure Late Life Consumption: A Framing Explanation of the Under-Annuitization Puzzle
w13752 Alma Cohen
Asymmetric Learning in Repeated Contracting: An Empirical Study
2007
w13537 Jeffrey R. Brown
Rational and Behavioral Perspectives on the Role of Annuities in Retirement Planning
w13359 Howard C. Kunreuther
Erwann O. Michel-Kerjan

Evaluating The Effectiveness of Terrorism Risk Financing Solutions
w13228 Liran Einav
Amy Finkelstein
Paul Schrimpf

The Welfare Cost of Asymmetric Information: Evidence from the U.K. Annuity Market
w13169 Jeffrey R. Brown
Nellie Liang
Scott Weisbenner

Individual Account Investment Options and Portfolio Choice: Behavioral Lessons from 401(k) Plans
w13067 William Adams
Liran Einav
Jonathan Levin

Liquidity Constraints and Imperfect Information in Subprime Lending
w13044 Mark V. Pauly
Fredric E. Blavin

Value Based Cost Sharing Meets the Theory of Moral Hazard: Medical Effectiveness in Insurance Benefits Design
w12940 Markus K. Brunnermeier
Christian Gollier
Jonathan A. Parker

Optimal Beliefs, Asset Prices, and the Preference for Skewed Returns
w12859 Francisco J. Gomes
Laurence J. Kotlikoff
Luis M. Viceira

The Excess Burden of Government Indecision
w12827 Alexander Muermann
Howard Kunreuther

Self-Protection and Insurance with Interdependencies
2006
w12794 Dean Yang
Coping with Disaster: The Impact of Hurricanes on International Financial Flows, 1970-2002
w12742 Darius Lakdawalla
George Zanjani

Catastrophe Bonds, Reinsurance, and the Optimal Collateralization of Risk-Transfer
w12595 Kosali I. Simon
Claudio Lucarelli

What Drove First Year Premiums in Stand-Alone Medicare Drug Plans?
w12446 David H. Krantz
Howard Kunreuther

Goals and Plans in Protective Decision Making
w12449 Howard Kunreuther
Reflections on U.S. Disaster Insurance Policy for the 21st Century
w12348 W. Kip Viscusi
Patricia Born

The Catastrophic Effects of Natural Disasters on Insurance Markets
w12112 Amy Finkelstein
James Poterba

Testing for Asymmetric Information Using 'Unused Observables' in Insurance Markets: Evidence from the U.K. Annuity Market
w12086 Patricia Born
W. Kip Viscusi
Tom Baker

The Effects of Tort Reform on Medical Malpractice Insurers' Ultimate Losses
2005
w11588 Stephen H. Shore
Todd Sinai

Commitment, Risk, and Consumption: Do Birds of a Feather Have Bigger Nests?
w11164 Neeraj Sood
Abby Alpert
Jay Bhattacharya

Technology, Monopoly, and the Decline of the Viatical Settlements Industry
w11099 Joseph J. Doyle Jr.
Health Insurance, Treatment and Outcomes: Using Auto Accidents as Health Shocks
w11039 Amy Finkelstein
Kathleen McGarry
Amir Sufi

Dynamic Inefficiencies in Insurance Markets: Evidence from long-term care insurance
2003
w10141 Sean D. Campbell
Francis X. Diebold

Weather Forecasting for Weather Derivatives
w9957 Amy Finkelstein
Kathleen McGarry

Private Information and its Effect on Market Equilibrium: New Evidence from Long-Term Care Insurance
w9925 Mark V. Pauly
Kate H. Withers
Krupa Subramanian-Viswana
Jean Lemaire
John C. Hershey

Price Elasticity of Demand for Term Life Insurance and Adverse Selection
w9919 Mark V. Pauly
Yuhui Zeng

Adverse Selection and the Challenges to Stand-Alone Prescription Drug Insurance
w9900 Paul R. Bergin
Ivan Tchakarov

Does Exchange Rate Risk Matter for Welfare?
w9888 Bradley Herring
Mark Pauly

Incentive-Compatible Guaranteed Renewable Health Insurance
w9885 Geoffrey Heal
Howard Kunreuther

You Only Die Once: Managing Discrete Interdependent Risks
w9863 Jay Bhattacharya
Dana Goldman
Neeraj Sood

Market Evidence of Misperceived Prices and Mistaken Mortality Risks
w9863 Jay Bhattacharya
Dana Goldman
Neeraj Sood

Market Evidence of Misperceived Prices and Mistaken Mortality Risks
w9714 Thomas Davidoff
Jeffrey R. Brown
Peter A. Diamond

Annuities and Individual Welfare

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