This paper analyzes the impact of rate regulation on the structure of insurance markets for private passenger automobile insurance. The paper argues that states' restrictions on automobile insurers' rates of return will distort the structure of the market by distorting insurers' entry and output...

This paper tests for regulation-induced adverse selection in the Massachusetts automobile insurance market during the regulated period 1990-2005. The paper demonstrates the application of the Poterba-Finkelstein (2014) unused-observables test for adverse selection in a regulated insurance market...

This study uses data from a unique survey of the retirement planning behaviors of latemiddle-aged individuals living in New York State, to test hypotheses regarding the roleof earlier life experiences on the demand for long-term care insurance. Our primary focusis on previous provision of...

This paper empirically tests the divergent expectations model of pre-trial bargaining by exploiting variation in tort liability for bad faith insurance law. Using a repeated cross-sectional dataset of auto insurance claims from the Insurance Research Council, it estimates that the tort remedy...

The historic 1979 California Supreme Court decision in Royal Globe Insurance Company v. Superior Court unexpectedly extended insurer's good faith duty to settle liability claims to the injured third party claimant, expanding the set of eligible plaintiffs to those with the greatest incentive to...

The historic 1979 California Supreme Court decision in Royal Globe Insurance Company v. Superior Court unexpectedly extended to injured-third-parties the right to sue the injurer's insurer for bad faith in claim settlement, expanding the set of eligible plaintiffs to those with the greatest...

The contrast between the predictability of presidential elections and the variability of early polls has come to be viewed as evidence of campaign learning. We argue that unmotivated survey respondents offering minimally acceptable answers (i.e., satisficing) offers an additional explanation for...

Research seeking to understand financial literacy and to enhance it through training or education is receiving greater attention and emphasis from policymakers. Unfortunately, relatively little of this research has focused on insurance products and consumers. This policy brief reviews what is...

We examine how consumer use of antidepressant medications was influenced by warnings provided by the Food and Drug Administration (FDA) about the increased risk of suicidality associated with antidepressant use among children. Using data from the Medical Expenditure Panel Survey, we find...