Asymmetric information can lead to adverse selection and market failure. In a dynamic setting, asymmetric information also limits reclassification risk. This certainty offsets the costs of adverse selection. Using a dynamic model of endogenous insurance choice and price calibrated to the U.S....

Crowd-out, the switching from private to public insurance, is often found, but estimates are rarely consistent with prior measurements. Cutler and Gruber (1996) found crowd-out in up to half of the newly eligible children, while Card and Shore-Sheppard (2004) found almost none. This paper...

Purpose: Editors of employee magazines work in a grey area between public relations and journalism. On the one hand, they need to accommodate the company management’s interest in a positive presentation; on the other, they must meet the employees’ need for objective and independent...