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Replication data for: Multiple Dimensions of Private Information: Evidence from the Long-Term Care Insurance Market

Version
V0
Resource Type
Dataset
Creator
  • Finkelstein, Amy
  • McGarry, Kathleen
Publication Date
2006-09-01
Description
  • Abstract

    We demonstrate the existence of multiple dimensions of private information in the long-term care insurance market. Two types of people purchase insurance: individuals with private information that they are high risk and individuals with private information that they have strong taste for insurance. Ex post, the former are higher risk than insurance companies expect, while the latter are lower risk. In aggregate, those with more insurance are not higher risk. Our results demonstrate that insurance markets may suffer from asymmetric information even absent a positive correlation between insurance coverage and risk occurrence. The results also suggest a general test for asymmetric information. (JEL D82, G22, I11)
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.96.4.938 (Text)
Publications
  • Finkelstein, Amy, and Kathleen McGarry. “Multiple Dimensions of Private Information: Evidence from the Long-Term Care Insurance Market.” American Economic Review 96, no. 4 (August 2006): 938–58. https://doi.org/10.1257/aer.96.4.938.
    • ID: 10.1257/aer.96.4.938 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07

Finkelstein, Amy; McGarry, Kathleen (2006): Replication data for: Multiple Dimensions of Private Information: Evidence from the Long-Term Care Insurance Market. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E116237