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Beyond Testing: Empirical Models of Insurance Markets

Liran Einav, Amy Finkelstein and Jonathan Levin

No 15241, NBER Working Papers from National Bureau of Economic Research, Inc

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.

JEL-codes: C51 D82 (search for similar items in EconPapers)
Date: 2009-08
New Economics Papers: this item is included in nep-com, nep-cta, nep-ias and nep-mic
Note: AG EH IO PE
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published as Liran Einav & Amy Finkelstein & Jonathan Levin, 2010. "Beyond Testing: Empirical Models of Insurance Markets," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 311-336, 09.

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