Braun, R. Anton; Kopecky, Karen A.; Koreshkova, Tatyana - In: Econometrica 87 (2019) 3, pp. 981-1019
Half of U.S. 50‐year‐olds will experience a nursing home stay before they die, and one in ten will incur out‐of‐pocket long‐term care expenses in excess of $200,000. Surprisingly, only about 10% of individuals over age 62 have private long‐term care insurance (LTCI) and LTCI takeup...