medical insurance. We find that both the level and the shape of the distribution of risk are important in determining the … equilibrium quantity of insurance. Symmetric changes in risk (e.g., shifts in the price of medical care) better explain the … shifting insurance rate over time. Asymmetric changes (e.g., associated with a shifting age distribution) are not as important. …

This paper demonstrates the existence of adverse selection in the group insurance market with no individual choice. We … provide evidence against the “conventional wisdom” that group insurance mitigates adverse selection because of the mixture of …

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

This chapter reviews topics related to the demand for health insurance, including the question of how choice of health … insurance should be structured for consumers. After the first section summarizes some of the institutional features of health … insurance in high- and middle-income countries, a second section synthesizes the normative and empirical literature on demand …