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Do Pharmacists Buy Bayer? Informed Shoppers and the Brand Premium

Bronnenberg, Bart J. - 2014

We estimate the effect of information and expertise on consumers' willingness to pay for national brands in physically homogeneous product categories. In a detailed case study of headache remedies we find that more informed or expert consumers are less likely to pay extra to buy national brands,...

Persistent link: https://www.econbiz.de/10012458372

Multivariate Fractional Regression Estimation of Econometric Share Models

Mullahy, John - 2010

proposed by Papke and Wooldridge, 1996, 2008, in univariate cross-sectional and panel contexts. The paper discusses the … econometric strategies for share model estimation. The paper then goes on to discuss the univariate fractional regression … estimation strategies proposed by Papke and Wooldridge and to extend the fractional regression approach to estimation of and …

Persistent link: https://www.econbiz.de/10012462302

An Empirical Analysis of Alcohol Addiction : Results from the Monitoring the Future Panels

Grossman, Michael - 1995

consumption of an addictive good. The data employed in this study consist of a U.S. panel whose members range in age from …

Persistent link: https://www.econbiz.de/10012473679

Framing Lifetime Income

Brown, Jeffrey R. - 2013

We provide evidence that individuals optimize imperfectly when making annuity decisions, and this result is not driven by loss aversion. Life annuities are more attractive when presented in a consumption frame than in an investment frame. Highlighting the purchase price in the consumption frame...

Persistent link: https://www.econbiz.de/10012459598

Narrow Framing and Life Insurance

Gottlieb, Daniel - 2012

Life insurance is a large yet poorly understood industry. A final death benefit is not paid for a majority of policies. Insurers make money on customers that lapse their policies and lose money on customers that keep their coverage. Policy loads are inverted relative to the dynamic pattern...

Persistent link: https://www.econbiz.de/10012460061

How Rational Is the Purchase of Life Insurance?

Auerbach, Alan J. - 1989

This paper examines whether middle age American households purchase adequate amounts of life insurance. The analysis is based on SRI International's 1980, 1982, and 1984 surveys of the financial positions of American households. Our findings indicate that a significant minority of American wives...

Persistent link: https://www.econbiz.de/10012475983

Multiple Dimensions of Private Information in Life Insurance Markets

Wu, Xi - 2013

Conventional theory for private information of adverse selection predicts a positive correlation between insurance coverage and ex post risk. This paper shows the opposite in the life insurance market despite the clear evidence of private information on mortality risk. The reason for this...

Persistent link: https://www.econbiz.de/10012459029

The Mismatch Between Life Insurance Holdings and Financial Vulnerabilities : Evidence from the Survey of Consumer Finances

Bernheim, B. Douglas - 2001

Using the 1995 Survey of Consumer Finances and an elaborate life-cycle model, we quantify the potential financial impact of each individual's death on his or her survivors, and we measure the degree to which life insurance moderates these consequences. Life insurance is essentially uncorrelated...

Persistent link: https://www.econbiz.de/10012470174

An Empirical Examination of Information Barriers to Trade in Insurance

Cawley, John - 1996

This paper tests restrictions implied by the canonical theory of insurance under asymmetric information using ideal data that contains the self-perceived and actual mortality risk of individuals, as well as the price and quantity of their life insurance. We report several findings which are hard...

Persistent link: https://www.econbiz.de/10012473173

Asset Insulators

Chodorow-Reich, Gabriel - 2018

We propose that financial institutions can act as asset insulators, holding assets for the long run to protect their valuations from consequences of exposure to financial markets. We demonstrate the empirical relevance of this theory for the balance sheet behavior of a large class of...

Persistent link: https://www.econbiz.de/10012480626