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A Continuous Theory of Income Insurance
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
2010 (English)Report (Other academic)
Abstract [en]

In this paper we treat an individual’s health as a continuous variable, in contrast to the traditional literature on income insurance, where it is regularly treated as a binary variable. This is not a minor technical matter; in fact, a continuous treatment of an individual’s health sheds new light on the role and functioning of income insurance and makes it possible to capture a number of real-world phenomena that are not easily captured in binary models. In particular, moral hazard is not regarded as outright fraud, but as a gradual adjustment of the willingness to go to work when income insurance is available. Further, the model can easily encompass phenomena such as administrative rejection of claims and the role of social norms. It also gives a rich view of the desirability of insurance in the first place.

Place, publisher, year, edition, pages
Stockholm: IIES , 2010. , 47 p.
Series
Seminar Paper / Institute for International Economic Studies, Stockholm University. (Online), ISSN 1653-610X ; 763
Keyword [en]
moral hazard, disability insurance, sick pay, work absence, social norms
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-42318OAI: oai:DiVA.org:su-42318DiVA: diva2:345163
Available from: 2010-08-24 Created: 2010-08-24 Last updated: 2010-08-24Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
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  • vancouver
  • Other style
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  • de-DE
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  • en-US
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  • nn-NO
  • nn-NB
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  • Other locale
More languages
Output format
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