Publication type
Journal Article
Authors
Publication date
March 15, 2013
Summary:
We test for asymmetric information in the UK private health insurance (PHI) market. In contrast to earlier research that considers either a purely private system or one where private insurance is complementary to public insurance, PHI is substitutive of the public system in the UK. Using a theoretical model of competition among insurers incorporating this characteristic, we link the type of selection (adverse or propitious) with the existence of risk-related information asymmetries. Using the British Household Panel Survey, we find evidence that adverse selection is present in the PHI market, which leads us to conclude that such information asymmetries exist.
Published in
Economic Journal
Volume and page numbers
Volume: 123 , p.96 -130
DOI
http://dx/doi.org/10.1111/j.1468-0297.2012.02520.x
ISSN
130133
Subjects
Notes
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