{"id":"https://openalex.org/W4395051925","doi":"https://doi.org/10.17016/feds.2024.024","title":"Navigating Higher Education Insurance: An Experimental Study on Demand and Adverse Selection","display_name":"Navigating Higher Education Insurance: An Experimental Study on Demand and Adverse Selection","publication_year":2024,"publication_date":"2024-04-01","ids":{"openalex":"https://openalex.org/W4395051925","doi":"https://doi.org/10.17016/feds.2024.024"},"language":"en","primary_location":{"id":"doi:10.17016/feds.2024.024","doi":"https://doi.org/10.17016/feds.2024.024","is_oa":true,"landing_page_url":"https://doi.org/10.17016/feds.2024.024","pdf_url":"https://www.federalreserve.gov/econres/feds/files/2024024pap.pdf","source":{"id":"https://openalex.org/S4210212089","display_name":"Finance and Economics Discussion Series","issn_l":"1936-2854","issn":["1936-2854","2767-3898"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Finance and Economics Discussion Series","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://www.federalreserve.gov/econres/feds/files/2024024pap.pdf","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5042548168","display_name":"Sidhya Balakrishnan","orcid":"https://orcid.org/0000-0001-9933-4577","observed_orcids":["https://orcid.org/0000-0001-9933-4577"]},"institutions":[{"id":"https://openalex.org/I4210118329","display_name":"Jain Family Institute","ror":"https://ror.org/02yxdv803","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I4210118329"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Sidhya Balakrishnan","raw_affiliation_strings":["Jain Family Institute"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Jain Family Institute","institution_ids":["https://openalex.org/I4210118329"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5068428449","display_name":"Eric Bettinger","orcid":"https://orcid.org/0000-0002-0337-8223","observed_orcids":["https://orcid.org/0000-0002-0337-8223"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I97018004","display_name":"Stanford University","ror":"https://ror.org/00f54p054","country_code":"US","type":"education","lineage":["https://openalex.org/I97018004"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Eric Bettinger","raw_affiliation_strings":["NBER","Stanford University"],"raw_orcid":"https://orcid.org/0000-0002-0337-8223","affiliations":[{"raw_affiliation_string":"NBER","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Stanford University","institution_ids":["https://openalex.org/I97018004"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5032015595","display_name":"Michael Kofoed","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I197518295","display_name":"IZA - Institute of Labor Economics","ror":"https://ror.org/029s44460","country_code":"DE","type":"nonprofit","lineage":["https://openalex.org/I197518295"]},{"id":"https://openalex.org/I75027704","display_name":"University of Tennessee at Knoxville","ror":"https://ror.org/020f3ap87","country_code":"US","type":"education","lineage":["https://openalex.org/I75027704"]}],"countries":["DE","US"],"is_corresponding":false,"raw_author_name":"Michael S. Kofoed","raw_affiliation_strings":["Institute for the Study of Labor (IZA)","University of Tennessee, Knoxville"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Institute for the Study of Labor (IZA)","institution_ids":["https://openalex.org/I197518295"]},{"raw_affiliation_string":"University of Tennessee, Knoxville","institution_ids":["https://openalex.org/I75027704"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5083445370","display_name":"Dubravka Ritter","orcid":"https://orcid.org/0009-0006-8326-7123","observed_orcids":["https://orcid.org/0009-0006-8326-7123"]},"institutions":[{"id":"https://openalex.org/I57502794","display_name":"Federal Reserve Bank of Philadelphia","ror":"https://ror.org/02gsb6172","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608","https://openalex.org/I57502794"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Dubravka Ritter","raw_affiliation_strings":["Federal Reserve Bank of Philadelphia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Federal Reserve Bank of Philadelphia","institution_ids":["https://openalex.org/I57502794"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5113746400","display_name":"Douglas Webber","orcid":"https://orcid.org/0009-0003-1475-6917","observed_orcids":["https://orcid.org/0009-0003-1475-6917"]},"institutions":[{"id":"https://openalex.org/I1317239608","display_name":"Federal Reserve","ror":"https://ror.org/05fk5tr28","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608"]},{"id":"https://openalex.org/I2802905149","display_name":"Federal Reserve Board of Governors","ror":"https://ror.org/00v448643","country_code":"US","type":"government","lineage":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Douglas A. Webber","raw_affiliation_strings":["Board of Governors of the Federal Reserve System (U.S.)"],"raw_orcid":"https://orcid.org/0009-0003-1475-6917","affiliations":[{"raw_affiliation_string":"Board of Governors of the Federal Reserve System (U.S.)","institution_ids":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5094142323","display_name":"Ege Aksu","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I121847817","display_name":"The Graduate Center, CUNY","ror":"https://ror.org/00awd9g61","country_code":"US","type":"education","lineage":["https://openalex.org/I121847817"]},{"id":"https://openalex.org/I4210118329","display_name":"Jain Family Institute","ror":"https://ror.org/02yxdv803","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I4210118329"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Ege Aksu","raw_affiliation_strings":["CUNY Graduate Center","Jain Family Institute"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"CUNY Graduate Center","institution_ids":["https://openalex.org/I121847817"]},{"raw_affiliation_string":"Jain Family Institute","institution_ids":["https://openalex.org/I4210118329"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5019221958","display_name":"Jonathan Hartley","orcid":"https://orcid.org/0000-0003-0112-7209","observed_orcids":["https://orcid.org/0000-0003-0112-7209"]},"institutions":[{"id":"https://openalex.org/I97018004","display_name":"Stanford University","ror":"https://ror.org/00f54p054","country_code":"US","type":"education","lineage":["https://openalex.org/I97018004"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Jonathan S. Hartley","raw_affiliation_strings":["Stanford University"],"raw_orcid":"https://orcid.org/0000-0003-0112-7209","affiliations":[{"raw_affiliation_string":"Stanford University","institution_ids":["https://openalex.org/I97018004"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":9,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.5622,"has_fulltext":true,"cited_by_count":2,"citation_normalized_percentile":{"value":0.66366676,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":95},"biblio":{"volume":null,"issue":"2024-024","first_page":"1","last_page":"57"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.6118000149726868,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"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/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.6118000149726868,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"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/T10267","display_name":"Higher Education Research Studies","score":0.13779999315738678,"subfield":{"id":"https://openalex.org/subfields/3304","display_name":"Education"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.11410000175237656,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/income-share-agreements","display_name":"income share agreements","score":0.6669999957084656},{"id":"https://openalex.org/keywords/student-loans","display_name":"student loans","score":0.703000009059906},{"id":"https://openalex.org/keywords/income-insurance","display_name":"income insurance","score":0.7139999866485596},{"id":"https://openalex.org/keywords/adverse-selection","display_name":"adverse selection","score":0.9430000185966492},{"id":"https://openalex.org/keywords/preference-adjustment","display_name":"preference adjustment","score":0.7870000004768372},{"id":"https://openalex.org/keywords/framing-effects","display_name":"framing effects","score":0.8870000243186951},{"id":"https://openalex.org/keywords/education-finance","display_name":"education funding","score":0.6470000147819519},{"id":"https://openalex.org/keywords/income-driven-repayment","display_name":"income-driven repayment","score":0.75},{"id":"https://openalex.org/keywords/non-profit-universities","display_name":"non-profit universities","score":0.6029999852180481}],"concepts":[{"id":"https://openalex.org/C32252159","wikidata":"https://www.wikidata.org/wiki/Q380037","display_name":"Adverse selection","level":2,"score":0.7783093452453613},{"id":"https://openalex.org/C2777227597","wikidata":"https://www.wikidata.org/wiki/Q462058","display_name":"Student loan","level":3,"score":0.652572751045227},{"id":"https://openalex.org/C2777764128","wikidata":"https://www.wikidata.org/wiki/Q189539","display_name":"Loan","level":2,"score":0.6027262806892395},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.5742147564888},{"id":"https://openalex.org/C169087156","wikidata":"https://www.wikidata.org/wiki/Q2131593","display_name":"Framing (construction)","level":2,"score":0.47127291560173035},{"id":"https://openalex.org/C120912362","wikidata":"https://www.wikidata.org/wiki/Q136822","display_name":"Higher education","level":2,"score":0.46895045042037964},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4382340908050537},{"id":"https://openalex.org/C62172701","wikidata":"https://www.wikidata.org/wiki/Q4826138","display_name":"Auto insurance risk selection","level":4,"score":0.4130246341228485},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4107278883457184},{"id":"https://openalex.org/C68799949","wikidata":"https://www.wikidata.org/wiki/Q977871","display_name":"Insurance policy","level":2,"score":0.3902999460697174},{"id":"https://openalex.org/C29513703","wikidata":"https://www.wikidata.org/wiki/Q6398174","display_name":"Key person insurance","level":3,"score":0.32223767042160034},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2651914060115814},{"id":"https://openalex.org/C50522688","wikidata":"https://www.wikidata.org/wiki/Q189833","display_name":"Economic growth","level":1,"score":0.13488203287124634},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C66938386","wikidata":"https://www.wikidata.org/wiki/Q633538","display_name":"Structural engineering","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.17016/feds.2024.024","doi":"https://doi.org/10.17016/feds.2024.024","is_oa":true,"landing_page_url":"https://doi.org/10.17016/feds.2024.024","pdf_url":"https://www.federalreserve.gov/econres/feds/files/2024024pap.pdf","source":{"id":"https://openalex.org/S4210212089","display_name":"Finance and Economics Discussion Series","issn_l":"1936-2854","issn":["1936-2854","2767-3898"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Finance and Economics Discussion Series","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.17016/feds.2024.024","doi":"https://doi.org/10.17016/feds.2024.024","is_oa":true,"landing_page_url":"https://doi.org/10.17016/feds.2024.024","pdf_url":"https://www.federalreserve.gov/econres/feds/files/2024024pap.pdf","source":{"id":"https://openalex.org/S4210212089","display_name":"Finance and Economics Discussion Series","issn_l":"1936-2854","issn":["1936-2854","2767-3898"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Finance and Economics Discussion Series","raw_type":"journal-article"},"sustainable_development_goals":[{"score":0.7390999794006348,"id":"https://metadata.un.org/sdg/10","display_name":"Reduced inequalities"},{"score":0.5385000109672546,"id":"https://metadata.un.org/sdg/4","display_name":"Quality education"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4395051925.pdf","grobid_xml":"https://content.openalex.org/works/W4395051925.grobid-xml"},"referenced_works_count":45,"referenced_works":["https://openalex.org/W1507549819","https://openalex.org/W2005158847","https://openalex.org/W2033589540","https://openalex.org/W2062168741","https://openalex.org/W2091834585","https://openalex.org/W2142594557","https://openalex.org/W2144071907","https://openalex.org/W2144570112","https://openalex.org/W2146931285","https://openalex.org/W2151951881","https://openalex.org/W2156109180","https://openalex.org/W2305754340","https://openalex.org/W2345750865","https://openalex.org/W2608953757","https://openalex.org/W2609052685","https://openalex.org/W2737204744","https://openalex.org/W2757083765","https://openalex.org/W2797689467","https://openalex.org/W2804615220","https://openalex.org/W2891701339","https://openalex.org/W2901314494","https://openalex.org/W2911964244","https://openalex.org/W2935564670","https://openalex.org/W2969796370","https://openalex.org/W2985475503","https://openalex.org/W2996585540","https://openalex.org/W3087128620","https://openalex.org/W3121826568","https://openalex.org/W3122320753","https://openalex.org/W3125424168","https://openalex.org/W3125830129","https://openalex.org/W3126104334","https://openalex.org/W3197926481","https://openalex.org/W3210829985","https://openalex.org/W4234744528","https://openalex.org/W4285450986","https://openalex.org/W4285603564","https://openalex.org/W4292331225","https://openalex.org/W4297103711","https://openalex.org/W4313364801","https://openalex.org/W4319076044","https://openalex.org/W4320016656","https://openalex.org/W4362726114","https://openalex.org/W4411549996","https://openalex.org/W4415371541"],"related_works":["https://openalex.org/W2797689467","https://openalex.org/W7010819121","https://openalex.org/W2982200149","https://openalex.org/W2980558261","https://openalex.org/W2098477037","https://openalex.org/W2070044157","https://openalex.org/W4296202592","https://openalex.org/W2080915590","https://openalex.org/W6964730770","https://openalex.org/W7100393988"],"abstract_inverted_index":{"We":[0,20,51],"conduct":[1],"a":[2,9,23,27],"survey-based":[3],"experiment":[4],"with":[5,30,38,96],"2,776":[6],"students":[7,22,54,95],"at":[8],"non-profit":[10],"university":[11],"to":[12,57,90],"analyze":[13],"income":[14,44],"insurance":[15,45,89],"demand":[16,85],"in":[17,59],"education":[18,88],"financing.":[19],"offered":[21],"hypothetical":[24],"choice:":[25],"either":[26],"federal":[28],"loan":[29,65],"income-driven":[31],"repayment":[32],"or":[33,73],"an":[34],"income-share":[35],"agreement":[36],"(ISA),":[37],"randomized":[39],"framingof":[40],"downside":[41],"protections.":[42],"Emphasizing":[43],"increased":[46],"ISA":[47],"uptake":[48],"by":[49],"43%.":[50],"observe":[52],"that":[53,79],"are":[55],"responsive":[56],"changes":[58],"contract":[60],"terms":[61,82],"and":[62],"possible":[63],"student":[64],"cancellation,":[66],"which":[67],"is":[68],"evidence":[69],"of":[70],"preference":[71],"adjustment":[72],"adverse":[74],"selection.":[75],"Our":[76],"results":[77],"indicate":[78],"framing":[80],"specific":[81],"can":[83],"increase":[84],"for":[86,94],"higher":[87],"potentially":[91],"address":[92],"risk":[93],"varying":[97],"outcomes.":[98]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2024,"cited_by_count":1}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2024-04-24T00:00:00"}
