Self-Control, Effort Procrastination, and Competitive Equilibrium in Insurance Markets

doi:10.1111/jori.12275

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	Self-Control, Effort Procrastination, and Competitive Equilibrium in Insurance Markets
	Ai, Jing 3; Zhao, Lin 2; Zhu, Wei 1
刊名	JOURNAL OF RISK AND INSURANCE
	2020-09-01
卷号	87 期号:3 页码:751-782
ISSN号	0022-4367
DOI	10.1111/jori.12275
英文摘要	This article studies consumers' self-control problems in precautionary activities, their contract choices, and the welfare implications in a competitive insurance market. Present bias and consumer naivete both induce consumers to procrastinate or eventually give up precautionary efforts. In consequence, self-control problems disrupt the monotonicity of consumers' indifference curve on contract choices, leading to a pooling equilibrium or an absence of risk-coverage correlation, in addition to the classic result of adverse selection. Compulsory insurance raises all consumers' welfare only in adverse selection, but not in other equilibrium patterns.
WOS研究方向	Business & Economics
语种	英语
出版者	WILEY
WOS记录号	WOS:000558776700007
内容类型	期刊论文
源URL	[http://ir.amss.ac.cn/handle/2S8OKBNM/51979]
专题	系统科学研究所
通讯作者	Ai, Jing
作者单位	1.Univ Int Business & Econ, Sch Insurance & Econ, Beijing 100029, Peoples R China 2.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China 3.Univ Hawaii Manoa, Shidler Coll Business, 2404 Maile Way, Honolulu, HI 96822 USA
推荐引用方式 GB/T 7714	Ai, Jing,Zhao, Lin,Zhu, Wei. Self-Control, Effort Procrastination, and Competitive Equilibrium in Insurance Markets[J]. JOURNAL OF RISK AND INSURANCE,2020,87(3):751-782.
APA	Ai, Jing,Zhao, Lin,&Zhu, Wei.(2020).Self-Control, Effort Procrastination, and Competitive Equilibrium in Insurance Markets.JOURNAL OF RISK AND INSURANCE,87(3),751-782.
MLA	Ai, Jing,et al."Self-Control, Effort Procrastination, and Competitive Equilibrium in Insurance Markets".JOURNAL OF RISK AND INSURANCE 87.3(2020):751-782.