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

Principal Investigator(s): View help for Principal Investigator(s) Amy Finkelstein; Kathleen McGarry

Name	File Type	Size	Last Modified
LICENSE.txt	text/plain	14.6 KB	12/02/2019 11:09:AM
readme.TXT	text/plain	701 bytes	12/02/2019 11:09:AM
replicationdata.dta	application/octet-stream	14.7 MB	12/02/2019 11:09:AM
replicationprogram.do	text/plain	6.7 KB	12/02/2019 11:09:AM
replicationprogram.log	text/plain	148.3 KB	12/02/2019 11:09:AM

Project Citation:

Project Description

Summary: 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)

Scope of Project

JEL Classification:
      D82 Asymmetric and Private Information; Mechanism Design
      G22 Insurance; Insurance Companies; Actuarial Studies
      I11 Analysis of Health Care Markets

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Published Versions

V1 [2019-12-02]

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DDI 2.5

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