Data and Code for: Long-Term Care Insurance: Information Frictions and Selection

Principal Investigator(s):  View help for Principal Investigator(s) Martin Boyer, HEC Montreal; Philippe De Donder, Toulouse School of Economics; Claude Denys Fluet, Université Laval; Marie-Louise Leroux, UQAM; Pierre-Carl Michaud, HEC Montreal

Version:  View help for Version V1

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Project Citation: 

Boyer, Martin, De Donder, Philippe, Fluet, Claude Denys, Leroux, Marie-Louise, and Michaud, Pierre-Carl. Data and Code for: Long-Term Care Insurance: Information Frictions and Selection. Nashville, TN: American Economic Association [publisher], 2020. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-07-23. https://doi.org/10.3886/E115322V1

Project Description

Summary:  View help for Summary
This paper conducts a stated-choice experiment where respondents are asked to rate various insurance products aimed to protect against financial risks associated with long-term care needs. Using exogenous variation in prices from the survey design and individual cost estimates, these stated-choice probabilities are used to predict market equilibrium for long-term care insurance. Our results are twofold. First, information frictions are pervasive. Second, measuring the welfare losses associated with frictions in a framework that also allows for selection, it is found that information frictions reduce equilibrium take-up and lead to large welfare losses while selection plays little role.
Funding Sources:  View help for Funding Sources SSHRC (435- 2016-1109); ANR (ANR-17-EURE-0010)

Scope of Project

JEL Classification:  View help for JEL Classification
      D82 Asymmetric and Private Information; Mechanism Design
      I13 Health Insurance, Public and Private
      J14 Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
Geographic Coverage:  View help for Geographic Coverage Canada


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V1 [2020-07-23]

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