, disability, and life insurance. Consistent with the predictions of the theory, in all three settings I find significant amounts …Across a wide set of non-group insurance markets, applicants are rejected based on observable, often high … be rejected relative to those who can purchase insurance; and I show it is enough private information to explain a …

measure of underinsurance will underestimate the number with low levels of insurance coverage due to moral hazard. We propose … small- versus large-firm workers with full-year, employer-sponsored insurance. Using data from the 2005 Medical Expenditure …

This paper investigates the incentive effects of automobile insurance, compulsory insurance laws, and no … 1970-1998, a period in which many states adopted compulsory insurance regulations and/or no-fault laws. Using an … instrumental variables approach, we find evidence that automobile insurance has moral hazard costs, leading to an increase in …

State guaranty funds are quasi-governmental agencies that provide insurance to policyholders against the risk of … insurance company failure. But insurance provided by guaranty funds, like all insurance, creates moral hazard problems … insurance companies to borrow money (i.e., from policyholders). Moreover, the existence of guaranty fund insurance enables …

This article describes the anatomy of health insurance. It begins by considering the optimal design of health insurance … States, which unites the functions of insurance and provision, and allows for active management of the care that is delivered …. The analysis then turns to the operation of health insurance markets. Economists generally favor choice in health …

is more dubious; response to financial incentives such as insurance is exacerbated; the social consequences and external …