全球智库信息集成服务系统(G2TT): Narrow Framing and Life Insurance

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w18601
来源ID	Working Paper 18601
	Narrow Framing and Life Insurance
	Daniel Gottlieb; Kent Smetters
发表日期	2012-12-06
出版年	2012
语种	英语
摘要	Life insurance is a large yet poorly understood industry. A final death benefit is not paid for a majority of policies. Insurers make money on customers that lapse their policies and lose money on customers that keep their coverage. Policy loads are inverted relative to the dynamic pattern consistent with reclassification risk insurance. As an industry, insurers lobby to ban secondary markets despite the liquidity provided. These (and other) stylized facts cannot easily be explained by information problems alone. We demonstrate that a simple model of narrow framing, where consumers do not fully account for their need for future liquidity when purchasing insurance, offers a simple and unified explanation.
主题	Microeconomics ; Behavioral Economics ; Financial Economics ; Financial Institutions
URL	https://www.nber.org/papers/w18601
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/576274
推荐引用方式 GB/T 7714	Daniel Gottlieb,Kent Smetters. Narrow Framing and Life Insurance. 2012.