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

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<title>Lemons or cherries? asymmetric information in the German private long-term care insurance market</title>
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<abstract displayLabel="Summary">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.</abstract>
<note type="statement of responsibility">Mark J. Browne, Tian Zhou-Richter</note>
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<title>Geneva papers on risk and insurance : issues and practice</title>
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<publisher>Geneva : The Geneva Association, 1976-</publisher>
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<identifier type="issn">1018-5895</identifier>
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<text>06/10/2014 Volumen 39 Número 4 - octubre 2014 </text>
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