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Lemons or cherries? asymmetric information in the German private long-term care insurance market

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      <subfield code="a">Browne, Mark J.</subfield>
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      <subfield code="a">Lemons or cherries? asymmetric information in the German private long-term care insurance market</subfield>
      <subfield code="c">Mark J. Browne, Tian Zhou-Richter</subfield>
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      <subfield code="a">This study provides evidence of the presence of asymmetric information in the German long-term care (LTC) insurance market. While certain private informationindividuals¿ pessimism level and preference for insurancecontributes to advantageous selection, the major source of adverse selectionindividuals¿ self-assessed high LTC riskswitches the final correlation between insurance and risk to one that is significantly positive. In addition, the study reveals that although individuals¿ self-assessment of poor health predicts their future care needs very well, such assessments are not necessarily reflected in insurance demand. The results from this study could assist insurers in better understanding and managing LTC risk.</subfield>
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      <subfield code="w">MAP20077100215</subfield>
      <subfield code="t">Geneva papers on risk and insurance : issues and practice</subfield>
      <subfield code="d">Geneva : The Geneva Association, 1976-</subfield>
      <subfield code="x">1018-5895</subfield>
      <subfield code="g">06/10/2014 Volumen 39 Número 4 - octubre 2014 </subfield>
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