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Road safety policies and automobile insurance contracts often use incentive mechanisms based on traffic violations and accidents to promote safe driving. Can these mechanisms improve road safety efficiently? Do they reduce asymmetric information between drivers and insurers and regulators? In...
Persistent link: https://www.econbiz.de/10013111921
Economists, regulators, and consumer protection agencies have highlighted the welfare losses for consumers who purchase high-load insurance against modest stakes risks. Mandatory information disclosure is a potentially attractive public policy tool that might improve consumers' choices, but has...
Persistent link: https://www.econbiz.de/10012850466
The endowment effect, status quo bias, and loss aversion are robust and well documented results from experimental psychology. They introduce a wedge between the prices at which one is willing to sell or buy a good. The objective of this paper is to address this wedge. We show that the presence...
Persistent link: https://www.econbiz.de/10009724431
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The identification of information problems in different markets is challenging issue in the economic literature. In this paper, we study the identification of moral hazard from adverse selection and learning within the context of a multi-period dynamic model. We extend the model of Abbring et...
Persistent link: https://www.econbiz.de/10013115720
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theory. There is also evidence that the gap is eroded by experience gained in the laboratory and naturally occurring markets …
Persistent link: https://www.econbiz.de/10009738615
Persistent link: https://www.econbiz.de/10009236787
Randomized experiments (REs) are viewed as the "gold standard" for the treatment evaluation, but many REs are plagued …" outcomes that are typically the focus of evaluation studies, and treatment side effects that are the private information of the … standard evaluation approach, is that patient welfare may be enhanced by offering a menu of therapies, since no single …
Persistent link: https://www.econbiz.de/10014075800
Drivers: Licensing Policies, Evaluation and Risks; and 4) Road Insurance Regulation. …
Persistent link: https://www.econbiz.de/10000672404