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Arrow’s theorem of the deductible and long-term care insurance

Jacques Dreze, Pierre Pestieau () and Erik Schokkaert

Economics Letters, 2016, vol. 148, issue C, 103-105

Abstract: Long-term care (LTC) needs are expected to increase in the next decades. This calls for more involvement of the market that today covers less than 10% of these needs. We analyze which features an optimal LTC insurance policy should incorporate. Following Arrow (1963) we suggest that such policy should consist of complete insurance above a deductible amount.

Keywords: Capped spending; Arrow’s theorem; Long term care insurance (search for similar items in EconPapers)
Date: 2016
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