Price Subsidies and the Demand for Automobile Insurance

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2021-03-17 DOI:10.1080/10920277.2022.2082986

Boheng Su, Sharon Tennyson

引用次数: 0

Abstract

This article tests for regulation-induced adverse selection in the Massachusetts automobile insurance market during the 1990–2004 period of fix-and-establish rate regulation. We demonstrate the application of the test for adverse selection in Finkelstein and Poterba (Journal of Risk and Insurance 81 (4):709–34, 2014) to a regulated insurance market using group-level panel data on purchase amounts and loss costs. Differences between rates that incorporate state-mandated restrictions and those based on actuarial estimates provide a proxy for the unused observables needed to implement the test. Consistent with regulation-induced adverse selection, proxy values indicating higher unpriced risk are statistically significant and positively related to both insurance purchases and loss costs.

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价格补贴与汽车保险需求

本文对美国马萨诸塞州汽车保险市场在1990-2004年固定固定费率管制期间的监管诱导逆向选择进行了检验。我们将Finkelstein和Poterba (Journal of Risk and Insurance 81(4):709 - 34,2014)的逆向选择测试应用于一个受监管的保险市场，使用集团层面的购买金额和损失成本面板数据。包含州强制限制的费率与基于精算估计的费率之间的差异为实施测试所需的未使用的可观察值提供了代理。与监管诱导的逆向选择一致，表明较高未定价风险的代理值在统计上显著，且与保险购买和损失成本呈正相关。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.