1.1. The first model of general economic equilibrium was presented by Walras [15] more than hundred years ago. As the model became generally known, it must have been clçar that it was desirable to generalize it, and take uncertainty into account. The most visible markets at the end of the last century were probably the stock exchanges, where uncertainty obviously played an important part. Insur...

We examine the efficiency-based arguments for second-best optimal health insurance with multiple treatment goods and multiple time periods. Correlated shocks across health care goods and over time interact with complementarity and substitutability to affect optimal cost sharing. Health care goods that are substitutes or have positively correlated demand shocks should have lower optimal patient ...

This article investigates the influence of public risk mitigating activities on individuals’ decisions to privately mitigate their disaster risks through changes in perceptions. We exploit heterogeneity measures under U.S. Community Rating System empirically demonstrate that investment flood communication crowds insurance demand, while lower hazard residents face crowd out demand. contribute di...

Using farm level data we evaluate the input use and environmental effects of revenue insurance. A priori, the moral hazard effect on input use is indeterminate. This paper empirically assesses the input use impact of the increasingly popular, and federally subsidized, risk management instrument of revenue insurance and the extent to which its effects on input use may differ from those of the ol...

OBJECTIVE To assess the individual financial impact of having diabetes in developing countries, whether diabetic individuals possess appropriate medications, and the extent to which health insurance may protect diabetic individuals by increasing medication possession or decreasing the risk of catastrophic spending. RESEARCH DESIGN AND METHODS Using 2002-2003 World Health Survey data (n = 121,...

HEALTH INSURANCE EXCHANGE: This Issue Brief examines issues related to managed competition and the use of a health insurance exchange for the purpose of addressing cost, quality, and access to health care services. It discusses issues that must be addressed when designing an exchange in order to reform the health insurance market and also examines state efforts at health reform that use an exch...

This paper focuses on the effects of commuting time on sickness insurance utilization by applying a generalized propensity score estimator to a large sample of Swedish employees. We analyse the effect of commuting time both on the probability of using sickness insurance at all and on the probability that an individual on sick leave is on so-called partial sick leave rather than being completely...