Narrow framing and long-term care insurance

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<title>Narrow framing and long-term care insurance</title>
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<namePart>Mitchell, Olivia S.</namePart>
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<abstract displayLabel="Summary">We propose a model of narrow framing in insurance and test it using data from a new module we designed and fielded in the Health and Retirement Study. We show that respondents subject to narrow framing are substantially less likely to buy long-term care insurance than average. This effect is much larger than the effects of risk aversion or adverse selection, and it offers a new explanation for why people underinsure their later-life care needs.</abstract>
<note type="statement of responsibility">Daniel Gottlieb, Olivia S. Mitchell</note>
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<title>The Journal of risk and insurance</title>
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<publisher>Nueva York : The American Risk and Insurance Association, 1964-</publisher>
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<identifier type="issn">0022-4367</identifier>
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<text>01/12/2020 Volumen 87 Número 4 - diciembre 2020 , p. 861-893</text>
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