Self-control, effort procrastination, and competitive equilibrium in insurance markets
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<dc:creator>Ai, Jing</dc:creator>
<dc:creator>Zhao, Lin</dc:creator>
<dc:creator>Zhu, Wei </dc:creator>
<dc:date>2020-09-01</dc:date>
<dc:description xml:lang="es">Sumario: This article studies consumers' self-control problems in precautionary activities, their contract choices, and the welfare implications in a competitive insurance market. Present bias and consumer naivete both induce consumers to procrastinate or eventually give up precautionary efforts. In consequence, self-control problems disrupt the monotonicity of consumers' indifference curve on contract choices, leading to a pooling equilibrium or an absence of riskcoverage correlation, in addition to the classic result of adverse selection. Compulsory insurance raises all consumers' welfare only in adverse selection, but not in other equilibrium patterns.</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/172966.do</dc:identifier>
<dc:language>eng</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Mercado de seguros</dc:subject>
<dc:subject xml:lang="es">Comportamiento del consumidor</dc:subject>
<dc:subject xml:lang="es">Productos de seguros</dc:subject>
<dc:subject xml:lang="es">Perspectivas del seguro</dc:subject>
<dc:subject xml:lang="es">Contrato de seguro</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">Self-control, effort procrastination, and competitive equilibrium in insurance markets</dc:title>
<dc:relation xml:lang="es">En: The Journal of risk and insurance. - Nueva York : The American Risk and Insurance Association, 1964- = ISSN 0022-4367. - 01/09/2020 Volumen 87 Número 3 - septiembre 2020 , p. 751-782</dc:relation>
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