Replication data for: Unhealthy Insurance Markets: Search Frictions and the Cost and Quality of Health Insurance
Principal Investigator(s): View help for Principal Investigator(s) Randall D. Cebul; James B. Rebitzer; Lowell J. Taylor; Mark E. Votruba
Version: View help for Version V1
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Project Citation:
Cebul, Randall D., Rebitzer, James B., Taylor, Lowell J., and Votruba, Mark E. Replication data for: Unhealthy Insurance Markets: Search Frictions and the Cost and Quality of Health Insurance. Nashville, TN: American Economic Association [publisher], 2011. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112448V1
Project Description
Summary:
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We analyze the effect of search frictions in the market for commercial
health insurance. Frictions increase insurance premiums (enough to transfer 13.2 percent of consumer surplus from fully insured employer groups to insurers—approximately $34.4 billion in 1997); and increase insurance turnover (by 64 percent for the average policy).
This rent transfer harms consumers and—when combined with heightened turnover—reduces incentives to invest in future health. We also find that a publicly financed insurance option can improve the efficiency of private insurance markets by reducing search friction induced distortions in pricing and marketing efforts. (JEL D83 G22, I18)
Scope of Project
JEL Classification:
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D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
G22 Insurance; Insurance Companies; Actuarial Studies
I18 Health: Government Policy; Regulation; Public Health
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
G22 Insurance; Insurance Companies; Actuarial Studies
I18 Health: Government Policy; Regulation; Public Health
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