Economics, Econometrics and Finance
4 years ago

Insurance experiment reveals how choices impact agent performance in real tasks

Journal of Behavioral and Experimental Economics
Asymmetric information and insurance: An experimental approach
Fredrick Bedsworth, Daniel R. Neal, Javier E. Portillo, Kevin Willardsen

Paper Summary

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The article uses experiments to study how buying insurance affects people's behavior. They found that when given the choice to buy insurance, people tend to take more risks. But when insurance is mandatory, people take fewer risks. This shows that the way insurance is offered can influence how people act.