Moral Hazard, Adverse Selection and Health Expenditures: A Semiparametric Analysis
نویسندگان
چکیده
منابع مشابه
Moral hazard, adverse selection, and health expenditures: A semiparametric analysis
Theoretical models predict asymmetric information in health insurance markets may generate inefficient outcomes due to adverse selection and moral hazard. However, previous empirical research has found it difficult to disentangle adverse selection from moral hazard in health care. We empirically study this question by using data from the Health and Retirement Study to estimate a structural mode...
متن کاملA Semiparametric Analysis of Adverse Selection and Moral Hazard in Health Insurance Contracts
The last decade has been characterized by unprecedented inflation in health care expenditures. One commonly suggested source for this inflation is the distortion in the health insurance market due to asymmetric information about the latent health status of individuals that leads to adverse selection in health insurance contracts and run away medical expenditures due to moral hazard. In this pap...
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Moral hazard and adverse selection create inefficiencies in private health insurance markets. We use claims data from a large firm to study the independent roles of both moral hazard and adverse selection. Previous studies have attempted to estimate moral hazard in private health insurance by assuming that individuals respond only to the spot price, end-of-year price, average price, or a relate...
متن کاملDisentangling Moral Hazard and Adverse Selection
This paper analyzes a canonical principal-agent problem with moral hazard and adverse selection. The agent is risk averse and has private information about his disutility of taking an unobservable action. The principal is risk neutral and designs a menu of contracts consisting of a compensation scheme and a recommended action for each type of agent to maximize expected profit. We first derive a...
متن کاملSimultaneous Adverse Selection and Moral Hazard
We study a principal-agent model with moral hazard and adverse selection. Agents have private information about the distribution of outcomes conditional on each effort. We characterize the solution of the resulting multidimensional screening problem, and establish several general properties. A positive mass of types with low conditional probabilities of success gets a constant payment and zero ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2012
ISSN: 1556-5068
DOI: 10.2139/ssrn.2211792