why insurance markets fail and what to do about it Einav, Liran 1970- creator Finkelstein, Amy Nadya 1973- Fisman, Raymond John 1971- text bibliography ctu 2022 monographic eng

print

271 pages ; 22 cm "An engaging and accessible examination of what ails insurance markets--and what to do about it--by three leading economists. Why is dental insurance so crummy? Why is pet insurance so expensive? Why does your auto insurer ask for your credit score? The answer to these questions lies in understanding how insurance works. Unlike the market for other goods and services--for instance, a grocer who doesn't care who buys the store's broccoli or carrots--insurance providers are more careful in choosing their customers, because some are more expensive than others. Unraveling the mysteries of insurance markets, Liran Einav, Amy Finkelstein, and Ray Fisman explore such issues as why insurers want to know so much about us and whether we should let them obtain this information; why insurance entrepreneurs often fail (and some tricks that may help them succeed); and whether we'd be better off with government-mandated health insurance instead of letting businesses, customers, and markets decide who gets coverage and at what price. With insurance at the center of divisive debates about privacy, equity, and the appropriate role of government, this book offers clear explanations for some of the critical business and policy issues you've often wondered about, as well as for others you haven't yet considered.:-- Prologue : Overlooked no more -- Part I : Setting the scene. Death of a market ; Into the wild ; The two-thousand-year-old market -- Part II : Much ado about selection. The price isn't right ; Opening the chamber of secrets -- Part III : Enter the government. Eat your broccoli! ; You can't do that! ; Business gets the last move -- Epilogue : Selection markets here, there, and everywhere. Liran Einav, Amy Finkelstein and Ray Fisman. Includes bibliographical references (pages 245-265) and index. n-us--- Insurance United States Seguros Estados Unidos Insurance Insurance exchanges HG 8531 E35r 2022 368/.973 9780300274042 (paperback) 2022934606 YDX 220311 20250428145057.0 22461630 eng