Economics, Econometrics and Finance
4 years ago

Internal vs. Market Insurance: How Groups Decide to Protect Themselves.

National Bureau of Economic Research
Consumption vs. Production of Insurance
Tomas Philipson, George Zanjani

Paper Summary

The article explores how groups decide whether to create their own insurance or buy it from the market. Factors like cost and risk influence this decision. The study shows that self-insurance can lead to more delayed claims compared to market insurance. Self-insurance offers more control but misses out on sharing risks with others.

Related papers

Business, Management and Accounting
4 years ago

Social insurance fails to protect low-wage individuals in competitive markets.

Retirement Planning
Health Care Expenditure
Infrastructure Impact
1 view
Decision Sciences
4 years ago

Risk tolerance influences insurance coverage more than risk occurrence in markets.

Behavioral Economics
Ageing Research
Economics, Econometrics and Finance
5 years ago

Insurance prices impact self-insurance choices, affecting public health and insurers.

Insurance Dynamics
Health Economics
Retirement Planning
1 view