Xu, Xian; Zweifel, Peter - In: The Geneva Papers on Risk and Insurance - Issues and … 39 (2014) 4, pp. 651-667
Bilateral intergenerational moral hazard (BIMH) has been considered as one of the most important reasons for the sluggish development of private long-term care (LTC) insurance. On the one hand, the parent, who relies on child effort to avoid admission to the nursing home, may abstain from...