{"id":"https://openalex.org/W170257553","doi":null,"title":"Testing for Adverse Selection with \u201cUnused Observables\u201d","display_name":"Testing for Adverse Selection with \u201cUnused Observables\u201d","publication_year":2006,"publication_date":"2006-01-01","ids":{"openalex":"https://openalex.org/W170257553","mag":"170257553"},"language":"en","primary_location":{"id":"pmh:oai:aleph.bib-bvb.de:BVB01-016907378","doi":null,"is_oa":true,"landing_page_url":"http://papers.nber.org/papers/w12112.pdf","pdf_url":"http://papers.nber.org/papers/w12112.pdf","source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},"volume":null,"type":"article","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://papers.nber.org/papers/w12112.pdf","any_repository_has_fulltext":null},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5012244489","display_name":"Amy N. Finkelstein","orcid":"https://orcid.org/0000-0002-9941-6684","observed_orcids":["https://orcid.org/0000-0002-9941-6684"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Amy Finkelstein","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-9941-6684","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5026390628","display_name":"James M. Poterba","orcid":"https://orcid.org/0000-0003-3532-0998","observed_orcids":["https://orcid.org/0000-0003-3532-0998"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"James M. Poterba","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":20.8261,"has_fulltext":true,"cited_by_count":82,"citation_normalized_percentile":{"value":0.99103358,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12394","display_name":"Insurance and Financial Risk Management","score":0.9731000065803528,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12394","display_name":"Insurance and Financial Risk Management","score":0.9731000065803528,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.00800000037997961,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10391","display_name":"Healthcare Policy and Management","score":0.005799999926239252,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/adverse-selection","display_name":"adverse selection","score":0.9879999756813049},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.7279999852180481},{"id":"https://openalex.org/keywords/annuity-market","display_name":"annuity market","score":0.8980000019073486},{"id":"https://openalex.org/keywords/annuity-pricing","display_name":"annuity pricing","score":0.7250000238418579},{"id":"https://openalex.org/keywords/place-of-residence","display_name":"place of residence","score":0.8410000205039978},{"id":"https://openalex.org/keywords/mortality-risk","display_name":"mortality risk","score":0.8939999938011169},{"id":"https://openalex.org/keywords/insurance-demand","display_name":"insurance demand","score":0.7910000085830688},{"id":"https://openalex.org/keywords/market-efficiency","display_name":"market efficiency","score":0.4309999942779541}],"concepts":[{"id":"https://openalex.org/C32252159","wikidata":"https://www.wikidata.org/wiki/Q380037","display_name":"Adverse selection","level":2,"score":0.9249154329299927},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.707685112953186},{"id":"https://openalex.org/C2780202544","wikidata":"https://www.wikidata.org/wiki/Q44454","display_name":"Moral hazard","level":3,"score":0.6437854170799255},{"id":"https://openalex.org/C44465351","wikidata":"https://www.wikidata.org/wiki/Q215579","display_name":"Annuity","level":4,"score":0.5810948610305786},{"id":"https://openalex.org/C68799949","wikidata":"https://www.wikidata.org/wiki/Q977871","display_name":"Insurance policy","level":2,"score":0.5032529234886169},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.49708154797554016},{"id":"https://openalex.org/C62172701","wikidata":"https://www.wikidata.org/wiki/Q4826138","display_name":"Auto insurance risk selection","level":4,"score":0.4385174810886383},{"id":"https://openalex.org/C2777267654","wikidata":"https://www.wikidata.org/wiki/Q3519023","display_name":"Test (biology)","level":2,"score":0.41900473833084106},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.37753933668136597},{"id":"https://openalex.org/C29513703","wikidata":"https://www.wikidata.org/wiki/Q6398174","display_name":"Key person insurance","level":3,"score":0.345899760723114},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3209892511367798},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.1382453441619873},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.12952792644500732},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C2780899237","wikidata":"https://www.wikidata.org/wiki/Q156223","display_name":"Pension","level":2,"score":0.0},{"id":"https://openalex.org/C76485209","wikidata":"https://www.wikidata.org/wiki/Q2510714","display_name":"Life annuity","level":3,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:aleph.bib-bvb.de:BVB01-016907378","doi":null,"is_oa":true,"landing_page_url":"http://papers.nber.org/papers/w12112.pdf","pdf_url":"http://papers.nber.org/papers/w12112.pdf","source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},{"id":"mag:170257553","doi":null,"is_oa":false,"landing_page_url":"http://economics.sas.upenn.edu/~hfang/teaching/socialinsurance/readings/Finkelstein_Poterba06(2.12).pdf","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":{"id":"pmh:oai:aleph.bib-bvb.de:BVB01-016907378","doi":null,"is_oa":true,"landing_page_url":"http://papers.nber.org/papers/w12112.pdf","pdf_url":"http://papers.nber.org/papers/w12112.pdf","source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"display_name":"Decent work and economic growth","score":0.44999998807907104,"id":"https://metadata.un.org/sdg/8"}],"study_designs":[{"display_name":"Observational Study","id":"https://openalex.org/study-designs/observational-study"}],"awards":[],"funders":[{"id":"https://openalex.org/F4320306076","display_name":"National Science Foundation","ror":"https://ror.org/021nxhr62"},{"id":"https://openalex.org/F4320309110","display_name":"Teachers Insurance and Annuity Association - College Retirement Equities Fund","ror":"https://ror.org/03eqw9e29"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W170257553.pdf","grobid_xml":"https://content.openalex.org/works/W170257553.grobid-xml"},"referenced_works_count":32,"referenced_works":["https://openalex.org/W1506936048","https://openalex.org/W1544882706","https://openalex.org/W1870913663","https://openalex.org/W1969440363","https://openalex.org/W1976598038","https://openalex.org/W2009797510","https://openalex.org/W2026993257","https://openalex.org/W2044293638","https://openalex.org/W2069597205","https://openalex.org/W2070383419","https://openalex.org/W2070910626","https://openalex.org/W2090271893","https://openalex.org/W2113722078","https://openalex.org/W2119777649","https://openalex.org/W2121034459","https://openalex.org/W2132942366","https://openalex.org/W2141700097","https://openalex.org/W2143859188","https://openalex.org/W2163031017","https://openalex.org/W2163330020","https://openalex.org/W2238300326","https://openalex.org/W2242784780","https://openalex.org/W2472687557","https://openalex.org/W2574314355","https://openalex.org/W2891544515","https://openalex.org/W2995133996","https://openalex.org/W3022196478","https://openalex.org/W3121325984","https://openalex.org/W3124525584","https://openalex.org/W3124643791","https://openalex.org/W3125765331","https://openalex.org/W3125838336"],"related_works":["https://openalex.org/W2916247263","https://openalex.org/W7099046880","https://openalex.org/W2891544515","https://openalex.org/W7096218100","https://openalex.org/W7095168905","https://openalex.org/W7097968827","https://openalex.org/W2021514424","https://openalex.org/W7100326302","https://openalex.org/W2549935146","https://openalex.org/W1511391425"],"abstract_inverted_index":{"This":[0],"paper":[1],"tests":[2],"for":[3,53,58],"asymmetric":[4,54],"information":[5,148],"in":[6,77,93,169],"the":[7,12,48,68,94,126,135,161,173,176],"U.K.":[8,95,181],"annuity":[9,96,110,144,192],"market":[10,97,124,139],"of":[11,21,98,138,163],"1990s":[13],"by":[14,75,122],"trying":[15],"to":[16,44,129,190],"identify":[17,86],"'unused":[18],"observables,'":[19],"attributes":[20,165],"individual":[22,78],"insurance":[23,35,39,46,63,84,158,182],"buyers":[24,145],"that":[25,38,81,103,141,166,178],"are":[26],"correlated":[27,107],"both":[28,108],"with":[29,34,109,113],"subsequent":[30],"claims":[31],"experience":[32],"and":[33,65,101,112,188],"demand":[36,64,111],"but":[37],"companies":[40,159,183],"did":[41],"not":[42,73,128],"use":[43,168],"set":[45,162],"prices.Unlike":[47],"widely-used":[49],"positive":[50,60],"correlation":[51,61],"test":[52,71],"information,":[55],"which":[56],"searches":[57],"a":[59,195],"between":[62],"risk":[66],"experience,":[67],"unused":[69,91],"observables":[70],"is":[72],"confounded":[74],"heterogeneity":[76],"preference":[79],"parameters":[80],"may":[82],"affect":[83],"demand.We":[85],"residential":[87,118],"location":[88,119],"as":[89],"an":[90],"observable":[92],"this":[99,104],"period,":[100],"show":[102],"variable":[105],"was":[106,120],"prospective":[114],"mortality.Thus":[115],"even":[116],"though":[117],"observed":[121],"all":[123],"participants,":[125],"decision":[127],"condition":[130,191],"prices":[131,193],"on":[132,194],"it":[133],"created":[134],"same":[136],"types":[137],"inefficiencies":[140],"arise":[142],"when":[143],"have":[146],"private":[147],"about":[149,156],"mortality":[150],"risk.Our":[151],"findings":[152],"raise":[153],"interesting":[154],"questions":[155],"how":[157],"select":[160],"buyer":[164],"they":[167],"setting":[170],"policy":[171],"prices.In":[172],"decade":[174],"following":[175],"period":[177],"we":[179],"study,":[180],"changed":[184],"their":[185],"pricing":[186],"practices":[187],"began":[189],"buyer's":[196],"postcode.":[197]},"counts_by_year":[{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":2},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":11},{"year":2013,"cited_by_count":8},{"year":2012,"cited_by_count":8}],"updated_date":"2026-10-28T10:33:24.094632","created_date":"2016-06-24T00:00:00"}
