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Who can see it coming? Demand-side selection in long-term care insurance related to decision-making abilities
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008  240904e20240902usa|||p |0|||b|eng d
040  ‎$a‎​MAP‎$b‎​spa‎$d‎​MAP
084  ‎$a‎​219
1001 ‎$0‎​MAPA20240021306‎$a‎​Lambregts, Timo R. ‌
24510‎$a‎​Who can see it coming? Demand-side selection in long-term care insurance related to decision-making abilities‎$c‎​Timo R. Lambregts y Frederik T. Schut
520  ‎$a‎​Despite the growing demand for long-term care (LTC), the uptake of private LTC insurance (LTCI) is low and even declining in the United States. One reason is the complexity of LTCI decisions. Researchers have therefore suggested to support decision-making abilities. This paper shows, however, that such support would not unambiguously enhance functioning of the LTCI market. We analyze whether selection arises from two correlated but different decision-making abilities at old age, education and numeracy, and interactions thereof with private information. Using historical data from the Health and Retirement Survey we find that education generates adverse selection, which is only partially offset by advantageous selection due to numeracy
650 4‎$0‎​MAPA20080586294‎$a‎​Mercado de seguros ‌
650 4‎$0‎​MAPA20080588434‎$a‎​Toma de decisiones ‌
650 4‎$0‎​MAPA20080545338‎$a‎​Seguros ‌
650 4‎$0‎​MAPA20080603786‎$a‎​Seguro de dependencia ‌
650 4‎$0‎​MAPA20080539771‎$a‎​Salud ‌
650 4‎$0‎​MAPA20080612474‎$a‎​Servicios asistenciales ‌
7001 ‎$0‎​MAPA20240021313‎$a‎​Schut, Frederik T. ‌
7730 ‎$w‎​MAP20077000727‎$g‎​02/09/2024 Volumen 91 Número 3 - septiembre 2024 , p. 697 - 719‎$x‎​0022-4367‎$t‎​The Journal of risk and insurance‎$d‎​Nueva York : The American Risk and Insurance Association, 1964-
856  ‎$u‎​ https://doi.org/10.1111/jori.12465