EVIDENCE ON ADVERSE SELECTION - EQUILIBRIUM SIGNALING AND CROSS-SUBSIDIZATION IN THE INSURANCE MARKET

被引：128

作者：

PUELZ, R ^{[1
]}

SNOW, A ^{[1
]}

机构：

[1] UNIV GEORGIA, ATHENS, GA 30602 USA

来源：

JOURNAL OF POLITICAL ECONOMY | 1994年 / 102卷 / 02期

关键词：

D O I：

10.1086/261930

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The configuration of equilibrium in the market for automobile collision insurance is examined empirically by representing the premium-deductible menu and the demand function as a standard hedonic system. Using contractual data from a representative insurer, we estimate a reduced-form hedonic premium equation and the inverse of the marginal bid equation for insurance coverage. The data reveal an equilibrium with adverse selection and market signaling but lead us to reject the hypothesis that high risks receive contracts subsidized by low risks.

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页码：236 / 257

页数：22

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