Who can see it coming? Demand-side selection in long-term care insurance related to decision-making abilities

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      <subfield code="a">Lambregts, Timo R. </subfield>
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      <subfield code="a">Who can see it coming? Demand-side selection in long-term care insurance related to decision-making abilities</subfield>
      <subfield code="c">Timo R. Lambregts y Frederik T. Schut</subfield>
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      <subfield code="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</subfield>
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      <subfield code="g">02/09/2024 Volumen 91 Número 3 - septiembre 2024 , p. 697 - 719</subfield>
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      <subfield code="t">The Journal of risk and insurance</subfield>
      <subfield code="d">Nueva York : The American Risk and Insurance Association, 1964-</subfield>
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      <subfield code="u"> https://doi.org/10.1111/jori.12465</subfield>
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