A Finkelstein… - Journal of Political Economy, 2004 - nber.org
Abstract: We propose a new test of asymmetric information in insurance markets based on
observing characteristics of the individual not priced by the insurance market. Asymmetric
information is detected if there is a relationship between these unpriced characteristics ...
A Finkelstein… - American Economic Review, 2006 - nber.org
This paper examines empirically the implications of multiple dimensions of private
information in insurance markets. Focusing on the long term care insurance market, we
demonstrate that two types of people purchase long-term care insurance: individuals with ...
A Finkelstein… - The Economic Journal, 2002 - Wiley Online Library
This paper explores adverse selection in the voluntary and compulsory individual annuity
markets in the United Kingdom. Two empirical regularities support standard models of
adverse selection. First, annuitants are longer-lived than non-annuitants. These mortality ...
A Finkelstein - 2007 - nber.org
This paper tests the hypothesis that the salience of a tax system affects equilibrium tax rates.
To do this, I analyze how toll rates change after toll facilities adopt electronic toll collection.
Unlike manual toll collection, in which the driver must hand over cash at the toll collection ...
A Finkelstein - 2005 - nber.org
This paper investigates the effects of market-wide changes in health insurance by examining
the single largest change in health insurance coverage in American history: the introduction
of Medicare in 1965. I estimate that the impact of Medicare on hospital spending is ...
A Finkelstein… - 1999 - nber.org
This paper presents new evidence on the importance of adverse selection in individual
annuity markets. It focuses on the individual annuity market in the United Kingdom, which
provides an excellent empirical setting for studying selection effects. In addition to a ...
A Finkelstein… - 2003 - nber.org
This paper examines the standard test for asymmetric information in insurance markets: that
its presence will result in a positive correlation between insurance coverage and risk
occurrence. We show empirically that while there is no evidence of this positive correlation ...
JR Brown… - Journal of Public Economics, 2007 - Elsevier
Long-term care represents one of the largest uninsured financial risks facing the elderly in
the United States. We present evidence of supply side market failures in the private long-
term care insurance market. In particular, the typical policy purchased exhibits premiums ...
A Finkelstein - The Quarterly Journal of Economics, 2004 - qje.oxfordjournals.org
Abstract Public policies designed to increase utilization of existing technologies may also
affect incentives to develop new technologies. This paper investigates this phenomenon by
examining policies designed to increase usage of preexisting vaccines. I find that these ...
DM Cutler, A Finkelstein… - 2008 - nber.org
Standard theories of insurance, dating from Rothschild and Stiglitz (1976), stress the role of
adverse selection in explaining the decision to purchase insurance. In these models, higher
risk people buy full or near-full insurance, while lower risk people buy less complete ...
JR Brown… - The American Economic Review, 2008 - ingentaconnect.com
Abstract: We show that even incomplete public insurance can crowd out private insurance
demand. We estimate that Medicaid could explain the lack of private long-term care
insurance for about two-thirds of the wealth distribution, even if no other factors limited the ...
We estimate how the marginal utility of consumption varies with health. To do so, we
develop a simple model in which the impact of health on the marginal utility of consumption
can be estimated from data on permanent income, health, and utility proxies. We estimate ...
A Finkelstein… - 2006 - nber.org
This paper proposes a new test for adverse selection in insurance markets based on
observable characteristics of insurance buyers that are not used in setting insurance prices.
The test rejects the null hypothesis of symmetric information when it is possible to find one ...
We show that the provision of even incomplete public insurance can substantially crowd out
private insurance demand. We examine the interaction of the public Medicaid program with
the private market for long-term care insurance and estimate that Medicaid can explain the ...
A Finkelstein… - 2000 - nber.org
This paper presents new evidence on the importance of adverse selection in insurance
markets. We use a unique data set, consisting of all annuity policies sold by a large UK
insurance company since the early 1980s, to analyze mortality differences across groups ...
A Finkelstein, K McGarry… - 2005 - nber.org
We examine whether unregulated, private insurance markets efficiently provide insurance
against reclassification risk (the risk of becoming a bad risk and facing higher premiums). To
do so, we examine the ex-post risk type of individuals who drop their long-term care ...
A Finkelstein - Journal of Public Economics, 2002 - nber.org
Abstract This paper presents new evidence of the effect of the tax subsidy to employer-
provided health insurance on coverage by such insurance. I study the effects of a 1993 tax
change that reduced the tax subsidy to employer-provided supplementary health ...
A Finkelstein… - 2005 - nber.org
We study the impact of the introduction of one of the major pillars of the social insurance
system in the United States: the introduction of Medicare in 1965. Our results suggest that, in
its first 10 years, the establishment of universal health insurance for the elderly had no ...
A Finkelstein… - Journal of Public Economics, 2008 - Elsevier
We study the impact of the introduction of one of the major pillars of the social insurance
system in the United States: the introduction of Medicare in 1965. Our results suggest that, in
its first 10 years, the establishment of universal health insurance for the elderly had no ...
A Finkelstein, S Taubman, B Wright, M Bernstein… - 2011 - nber.org
In 2008, a group of uninsured low-income adults in Oregon was selected by lottery to be
given the chance to apply for Medicaid. This lottery provides a unique opportunity to gauge
the effects of expanding access to public health insurance on the health care use, ...
D Acemoglu… - 2006 - nber.org
This paper examines the implications of regulatory change for the input mix and technology
choices of regulated industries. We present a simple neoclassical framework that
emphasizes the change in relative factor prices associated with the regulatory change ...
L Einav, A Finkelstein… - 2008 - nber.org
We show how standard consumer and producer theory can be used to estimate welfare in
insurance markets with selection. The key observation is that the same price variation
needed to identify the demand curve also identifies how costs vary as market participants ...
JR Brown… - Journal of Risk and Insurance, 2009 - Wiley Online Library
This article reviews the growing literature on the market for private long-term care insurance,
a market notable for its small size despite the fact that long-term care expenses are
potentially large and highly uncertain. After summarizing long-term care utilization and ...
Long-term care represents one of the largest uninsured financial risks facing the elderly in
the United States. Whether the small size of this market is driven primarily by supply side
market imperfections or by limitations to demand, however, is unresolved, largely due to ...
A Finkelstein - 2003 - nber.org
Rapid technological progress has been a defining feature of the medical sector over the last
century, yet we know little about the determinants of the development of these new
technologies. This paper examines whether and to what extent the demand-side ...
L Einav, A Finkelstein… - 2009 - nber.org
We describe recent advances in the empirical analysis of insurance markets. This new
research proposes ways to estimate individual demand for insurance and the relationship
between prices and insurer costs in the presence of adverse and advantageous selection. ...
L Einav, A Finkelstein… - 2007 - nber.org
Much of the extensive empirical literature on insurance markets has focused on whether
adverse selection can be detected. Once detected, however, there has been little attempt to
quantify its importance. We start by showing theoretically that the efficiency cost of adverse ...
D Acemoglu, D Cutler, A Finkelstein… - 2006 - nber.org
The introduction of Medicare in 1965 was the single largest change in health insurance
coverage in US history. Many economists and commentators have conjectured that the
introduction of Medicare may have also been an important impetus for the development of ...
A Finkelstein - Journal of Public Economics, 2004 - Elsevier
This paper examines the implications of minimum standards for insurance markets. I study
the imposition of binding minimum standards on the market for voluntary private health
insurance for the elderly. The central estimates suggest that the introduction of the ...
This paper provides empirical evidence of Medicaid crowd out of demand for private long-
term care insurance. Using data on the near-and young-elderly in the Health and Retirement
Survey, our central estimate suggests that a $10,000 decrease in the level of assets an ...
Executive Summary This paper provides empirical evidence of Medicaid crowd out of
demand for private long-term care insurance. Using data on the near-and young-elderly in
the Health and Retirement Survey, our central estimate suggests that a $10,000 decrease ...
L Einav, A Finkelstein… - Econometrica, 2010 - Wiley Online Library
Much of the extensive empirical literature on insurance markets has focused on whether
adverse selection can be detected. Once detected, however, there has been little attempt to
quantify its welfare cost or to assess whether and what potential government interventions ...
A Finkelstein - Journal of health economics, 2004 - Elsevier
A ubiquitous form of government intervention in insurance markets is to provide compulsory,
but partial, public insurance coverage and to allow voluntary purchases of supplementary
private insurance. This paper investigates the effects of such programs on insurance ...
D Acemoglu, A Finkelstein… - 2009 - nber.org
Health expenditures as a share of GDP have more than tripled over the last half century. A
common conjecture is that this is primarily a consequence of rising real per capita income,
which more than doubled over the same period. We investigate this hypothesis empirically ...
By Amy Finkelstein, Erzo FP Luttmer, and Matthew J. Notowidigdo* increase. Indeed, we
have conducted stylized numerical calibrations which suggest that even a moderate amount
of state dependence can have a substantial effect on the optimal level of health insurance ...
A Finkelstein, J Poterba… - Journal of financial economics, 2009 - Elsevier
We illustrate how equilibrium screening models can be used to evaluate the economic
consequences of insurance market regulation. We calibrate and solve a model of the United
Kingdom's compulsory annuity market and examine the impact of gender-based pricing ...
[CITATION] The market for annuity products in the United Kingdom
A Finkelstein… - NBER working paper, 1999
L Einav… - 2011 - nber.org
We present a graphical framework for analyzing both theoretical and empirical work on
selection in insurance markets. We begin by using this framework to review the “textbook”
adverse selection environment and its implications for insurance allocation, social welfare, ...
A Finkelstein… - 2012 - papers.ssrn.com
Abstract: This paper proposes a new test for adverse selection in insurance markets based
on observable characteristics of insurance buyers that are not used in setting insurance
prices. The test rejects the null hypothesis of symmetric information when it is possible to ...
L Einav, A Finkelstein, I Pascu… - 2010 - nber.org
We examine the extent to which an individual's actual insurance and investment choices
display a stable ranking in willingness to bear risk, relative to his peers, across different
contexts. We do so by examining the same individuals' decisions regarding their 401 (k) ...
L Einav, A Finkelstein,
SP Ryan, P Schrimpf… - 2011 - nber.org
In this paper we explore the possibility that individuals may select insurance coverage in
part based on their anticipated behavioral response to the insurance contract. Such"
selection on moral hazard" can have important implications for attempts to combat either ...
A Finkelstein - 2002 - nber.org
This paper examines the consequences of imposing binding minimum standards on the
market for voluntary private health insurance for the elderly. Theoretically, the effect of these
standards on insurance coverage and on welfare is ambiguous. I find robust evidence of a ...
[CITATION] lWhat Good Is Wealth Without Health? The Effect of Health on the Marginal Utility of Consumption
A Finkelstein, E Luttmer… - 2008 - m NBER Working Paper 14089
A Finkelstein - 2002 - nber.org
Wilson (1977) provided the striking result that the government can always Pareto dominate a
pooling equilibrium in a private insurance market with adverse selection by providing the
pooling policy as a compulsory public policy and allowing individuals to buy ...
K Baicker… - New England Journal of Medicine, 2011 - Mass Medical Soc
There has been much debate, especially in light of the health insurance expansions in the
Affordable Care Act and the current fiscal crisis, about the costs and benefits of Medicaid.
Some have argued that Medicaid doesn't deliver much in the way of real benefits, either ...
H Allen, K Baicker, A Finkelstein, S Taubman… - Health Affairs, 2010 - Health Affairs
Abstract The recently enacted Patient Protection and Affordable Care Act includes a major
expansion of Medicaid to low-income adults in 2014. This paper describes the Oregon
Health Study, a randomized controlled trial that will be able to shed some light on the ...
A Finkelstein… - Unpublished Manuscript, 2003 - emlab.berkeley.edu
4.2 Results The estimating equation was shown in equation (3). We estimate a linear
probability model of whether the individual went into a nursing home in the five years
between 1995 and 2000 on his 1995 self-reported beliefs of this probability (B) and ...
A Finkelstein, LTC Risk - NBER Reporter, 2007 - nber.org
Long-term care expenditures represent one of the largest uninsured financial risks facing the
elderly in the United States. Expenditures on long-term care, such as home health care and
nursing homes, accounted for 8.5 percent of all health care spending in the United States, ...
[CITATION] Forthcoming.“The Interaction of Public and Private Insurance: Medicaid and the Long-Term Care Insurance Market.”
J Brown… - American Economic Review
[CITATION] Forthcoming.“Estimating Welfare in Insurance Markets Using Variation in Prices.”
L Einav, A Finkelstein… - Quarterly Journal of Economics
[CITATION] Private Information and Its Effect on Market Equilibrium: New Evidence from Long-Term Care Insurance 3, 30 (Nat'l Bureau of Econ. Research, Working …
A Finkelstein…
[CITATION] tDynamic ineffi ciencies in insurance mar) kets: Evidence from long term care insuranceu
A Finkelstein, KM Garry… - American Economic Review: Papers and …, 2005
[CITATION] Testing for Adverse Selection with" Unused Observables", ms. March 2006
A Finkelstein… - 2006 - NBER
[CITATION] forthcoming.“E-ZTax: Tax Salience and Tax Rates.”
A Finkelstein - Quarterly Journal of Economics
[CITATION] forthcoming.“Multiple Dimensions of Private Information: Evidence from the Long-Term Care Insurance Market.”
A Finkelstein… - American Economic Review
[CITATION] Input and Technology Choices in Regulated Industries: Evidence from the Health Care Sector
A Finkelstein… - Journal of Political Economy, 2008
[CITATION] Medicaid crowd-out of private long term care insurance demand: Evidence from the Health and Retirement Survey. 2006
J Brown, N Coe… - NBER Working Paper
[CITATION] Why Is the Market for Long-Term Care Insurance so Small?” forthcoming in
JR Brown… - Journal of Public Economics
[CITATION] High Prices, Limited Benefits: New Evidence on the Long-Term Care Insurance Market
JR Brown… - Annual Meeting of the Risk Theory Society, …, 2003 - aria.org
Abstract: Long-term care represents one of the largest uninsured financial risks facing the
elderly in the United States, and yet we have virtually no evidence to help explain the
extremely limited nature of the private market for long-term care insurance. This paper ...
[CITATION] OSupply or demand: why is the market for long term care insurance so small
J Brown… - 2004 - P working paper
[CITATION] Why Don't People Purchase Long-Term Care Insurance
J Brown… - Unpublished mss. Cambridge, Mass.: National Bureau …, 2003
AN Finkelstein - 1995 - en.scientificcommons.org
[CITATION] Why is the market for private long-term care insurance so small?
J Brown… - Unpublished mimeo, 2003
JR Brown… - The Journal of Economic …, 2011 - ingentaconnect.com
Abstract: Long-term care expenditures constitute one of the largest uninsured financial risks
facing the elderly in the United States and thus play a central role in determining the
retirement security of elderly Americans. In this essay, we begin by providing some ...
A Finkelstein, J Poterba… - Unpublished Mimeo, 2005 - stanford.edu
Restrictions on characteristic-based pricing are ubiquitous in the markets for many types of
insurance. The existing applied contract theory literature has shown qualitatively their negative
efficiency consequences but has largely ignored potential distributional effects. This ...
A Finkelstein - 2001 - en.scientificcommons.org
Abstract This thesis examines the workings of insurance markets. The first two papers
examine the effect of government tax and regulatory policy in markets for supplementary
health insurance. The third paper presents new evidence of the importance of adverse ...
J Gruber, A Finkelstein, DW Brown - 2010 - dspace.mit.edu
This thesis consists of three essays that examine household responses to state
unemployment insurance (UI) generosity across spells of unemployment, with a particular
emphasis on the role of liquidity constraints. Enacted in 1986, the Consolidated Omnibus ...
A Finkelstein - Fletcher F., 1983 - HeinOnline
In this article, Amy Finkelstein examines the implications of West Germany's 1975 decision
to sell to Brazil, a nonsignatory of the Nuclear Non-Proliferation Treaty, sensitive nuclear
technology. After first focusing on the agreement itself and Brazil's motivations for ...
[CITATION] Per-Mile Premiums for Auto Insurance Aaron S. Edlin University of California, Berkeley and NBER
R Arnott, S Borenstein, P Butler, A Finkelstein… - 2002
KA Finkelstein - 2011 - arizona.openrepository.com
Rights: Copyright© is held by the author. Digital access to this material is made possible by
the University Libraries, University of Arizona. Further transmission, reproduction or
presentation (such as public display or performance) of protected items is prohibited ...
D Autor, A Finkelstein, M Notowidigdo - 2010 - dspace.mit.edu
This thesis studies the economics of local labor markets. There are three chapters in the
thesis, and each chapter studies how economic outcomes are affected by local labor market
conditions. The first chapter studies the incidence of local labor demand shocks. This ...
J Gruber, A Finkelstein, M Frakes - 2009 - dspace.mit.edu
This dissertation contributes to an understanding of the manner in which various dimensions
of malpractice law shape physician behavior and how this behavior, in turn, impacts health
outcomes. In Chapter 1, I explore the association between regional variations in physician ...
AS Deaton, G Debreu, JB Donaldson… - Risk aspects of …, 2001 - books.google.com
Author Index Aaron, Henry J., 14–16, 30 Abel, Andrew B., 185, 197, 201, 207, 440, 468 Advisory
Council on Social Security, 474 Altonji, Joseph, 208 Aman, Tetsuya, 264–65t, 266–67t
Arrow, Kenneth, 291, 294 Attanasio, Orazio, 447, 448 Auerbach, Alan, 148 Balduzzi, ...
A Finkelstein - 2011 - nber.org
This is an excellent installment in a fruitful and fascinating line of ongoing work by this
research team on the Medicare Part D program. This research program is motivated by two
important and complementary goals. The first is evaluating the impact of the introduction of ...
B Jovanovic, H Hansmann, T O'Donoghue… - Cambridge Univ Press
This section contains an index of current working papers by author-supplied keyword. The keyword
is followed by the name of the primary author. Long keywords have been truncated. A complete
bibliographic listing can be found by consulting the corresponding entry for the primary ...
E Duflo, A Finkelstein, P Jia, M Wong - 2008 - dspace.mit.edu
Many ethnically diverse countries have policies that encourage integration across ethnic
groups. This dissertation investigates the impact and welfare implications of a residential
desegregation policy in Singapore, the ethnic housing quotas. I employ both reduced form ...
M Cullen, L Einav, A Finkelstein… - Discussion Papers, 2010 - ideas.repec.org
We examine the extent to which an individual's actual insurance and investment choices
display a stable ranking in willingness to bear risk, relative to his peers, across different
contexts. We do so by examining the same individuals' decisions regarding their 401 (k) ...
DM Cutler,
A Deaton, E Duflo… - Research Findings in … - lutung.library.ums.ac.id
485 Contributors Steven J. Atlas General Medicine Division Massachusetts General Hospital
50 Staniford Street, 9th floor Boston, MA 02114 Abhijit V. Banerjee Department of
Economics, E52-252d Massachusetts Institute of Technology 50 Memorial Drive ...
We are grateful to Adam Sacarny for outstanding research assistance. Much of our original
research in this area was supported by the Robert Wood Johnson Foundation, the TIAA
CREF Institute, and the NIA, and we are grateful for that support. Brown is a Trustee for ...
[CITATION] Vol. CXXII February 2007 Issue
A Finkelstein - Technology, 2007
A Case, A Chandra, JJ Choi… - Explorations in the …, 2011 - books.google.com
Contributors Abhijit Banerjee Department of Economics, E52-252d Massachusetts Institute of
Technology 50 Memorial Drive Cambridge, MA 02142-1347 John Beshears Graduate School
of Business Stanford University 518 Memorial Way Stanford, CA 94305 Anne Case ...
A Finkelstein, L Einav, MR Cullen - 2010 - dspace.mit.edu
We provide a graphical illustration of how standard consumer and producer theory can be
used to quantify the welfare loss associated with inefficient pricing in insurance markets with
selection. We then show how this welfare loss can be estimated empirically using ...
[CITATION] Re-examining the test for asymmetric information in insurance markets: New evidence from long-term care insurance
A Finkelstein… - 2003
A Finkelstein - 2004 - nber.org
Abstract: Rising expenditures have been a defining feature of the health care sector over the
last halfcentury. I investigate whether health insurance played a role in this rapid growth of
the health care sector by studying the single largest change in health insurance in ...
A Finkelstein - 2011 - papers.ssrn.com
This is a fascinating and extremely timely chapter analyzing the elderly's enrollment choices
in the new Medicare Part D prescription drug program. The new Medicare prescription drug
benefit, which began in 2006, arguably represents the largest single expansion in social ...
AN Finkelstein - 1997 - en.scientificcommons.org
A Finkelstein… - 2008 - ipersonal.univie.ac.at
ABSTRACT This paper tests for asymmetric information in the UK annuity market by testing
for the presence of unused observables, attributes of individual insurance buyers that are
correlated both with subsequent claims experience and with insurance demand but that ...
A Aron-Dine, L Einav, A Finkelstein… - 2012 - nber.org
We investigate whether individuals exhibit forward looking behavior in their response to the
non-linear pricing common in health insurance contracts. Our empirical strategy exploits the
fact that employees who join an employer-provided health insurance plan later in the ...
A Finkelstein… - The Economic Journal, 2002 - res.org.uk
This paper explores adverse selection in the voluntary and compulsory individual annuity
markets in the United Kingdom. Two empirical regularities support standard models of
adverse selection. First, annuitants are longer-lived than non-annuitants. These mortality ...
[CITATION] Preliminary. Comments welcome. Do not cite or circulate without permission.
A Finkelstein - 2002
[CITATION] High Prices, Limited Benefits: Is This Why Most Elderly Don't Buy Private Long-Term Care Insurance?
A Finkelstein - 2010 - nber.org
The paper focuses on individuals' decisions during the initial enrollment period (November
15, 2005 to May 15, 2006). It investigates the determinants of both whether an individual
enrolls during this period, and the timing of enrollment conditional on enrollment. The ...
D Acemoglu, A Finkelstein… - 2009 - cepr.org
Health expenditures as a share of GDP have more than tripled over the last half century. A
common conjecture is that this is primarily a consequence of rising real per capita income,
which more than doubled over the same period. We investigate this hypothesis empirically ...
M Cullen, L Einav… - Discussion Papers, 2009 - ideas.repec.org
We provide an illustration of how standard consumer and producer theory can be used to
quantify the welfare loss associated with inefficient pricing in insurance markets with
selection. We then show how this welfare loss can be estimated empirically using ...
JM Poterba, J Gruber, A Finkelstein - 2001 - dspace.mit.edu
This thesis examines the workings of insurance markets. The first two papers examine the
effect of government tax and regulatory policy in markets for supplementary health
insurance. The third paper presents new evidence of the importance of adverse selection ...
J Poterba, A Finkelstein, SP Klein - 2010 - dspace.mit.edu
This thesis consists of three essays that examine household savings and portfolio choice
behavior. Chapter One analyses the effects of employer matching contributions and tax
incentives on participation and contribution behavior in employer-sponsored 401 (k) ...
T LEMIEUX, AMY FINKELSTEIN… - econweb.umd.edu
A set of studies conducted over the last fifteen years has produced a near-consensus that
the Social Security Disability Insurance system (SSDI) has substantial disincentive effects on
the labor supply of near-elderly males, diminishing labor force participation, increasing the ...
J Brown, N Coe… - 2011 - papers.ssrn.com
Executive Summary This paper provides empirical evidence of Medicaid crowd out of
demand for private long-term care insurance. Using data on the near-and young-elderly in
the Health and Retirement Survey, our central estimate suggests that a $10,000 decrease ...
[CITATION] The Market for Long-Term Care
A Finkelstein - Research Foundation Publications, 2009 - CFA Institute
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