The welfare effects of vertical integration are ambiguous. Cost efficiencies and the elimination of double marginalization may offset increases in market power and incentives to raise rivals' costs. To study the effects of vertical integration between insurers and hospitals, we develop a model...

I consider the popular argument of Medicaid crowding out demand for private long-term care insurance. I show that this argument rests on a wrong counterfactual comparison. Furthermore, I question the welfare-decreasing impact of Medicaid as it neglects a large value of the program in providing...

Case managers provide individual and comprehensive support to employees who have become incapable of working. Using data from a large insurance company we find that overall, 43.9% of the people in our sample could be reintegrated. Controlling for personal characteristics, we analyze the...

I consider the popular argument of Medicaid crowding out demand for private long-term care insurance. I show that this argument rests on a wrong counterfactual comparison. Furthermore, I question the welfare-decreasing impact of Medicaid as it neglects a large value of the program in providing...

A life care annuity is a bundled insurance product comprised of a life annuity and long-term care insurance. Some recent studies find the two risks - longevity risk and long-term care risk - to be opposing and thus life care annuities advantageous in regard to pooling the two risks. Based on...

Case managers provide individual and comprehensive support to employees who have become incapable of working. Using data from a large insurance company we find that overall, 43.9% of the people in our sample could be reintegrated. Controlling for personal characteristics, we analyze the...

This paper investigates the impact of health risk on insurance contract with hazard moral. We use a bi-dimensional utility function (wealth and health status). We prove that the type of health risk influences the equilibrium of insurance market. A full coverage is possible with moral hazard....

In Chile, dependant workers are mandated to purchase health insurance and they can chose between one public provider and several private providers. Here, we analyze the relation between utilization and the choice of either private or public insurance. Independent workers, however, are not...

In vertically differentiated repair markets with insured customers, insurance coverage increases price level, entry, and the high quality provider’s profits. In the market for pharmaceuticals, this should be taken into account when calculating the extent of patent periods.

Insurance companies and insurance activities are subject to profuse industry regulation, justified by potential market failures, but this does not exclude the applicability to them of Competition Law. Nevertheless, almost all legal systems worldwide foresee, one way or another, significant...