Overview
An engaging and accessible examination of what ails insurance markets--and what to do about it--by three leading economists Why is dental insurance so crummy? Why is pet insurance so expensive? Why does your auto insurer ask for your credit score? The answer to these questions lies in understanding how insurance works. Unlike the market for other goods and services--for instance, a grocer who doesn't care who buys their broccoli or carrots--insurance providers are more careful in choosing their customers, because some customers are more expensive than others. Unraveling the mysteries of insurance markets, Liran Einav, Amy Finkelstein, and Ray Fisman explore such issues as why insurers want to know so much about us and whether we should let them obtain this information; why insurance entrepreneurs often fail (and some tricks that may help them succeed); and whether we'd be better off with government-mandated health insurance instead of letting businesses, customers, and markets decide who gets coverage and at what price. With insurance at the center of divisive debates about privacy, equity, and the appropriate role of government, this book offers clear explanations for some of the critical business and policy issues you've often wondered about, as well as some you haven't yet considered.
Full Product Details
Author: Amy Finkelstein ,
Liran Einav ,
Ray Fisman
Publisher: Blackstone Publishing
Imprint: Blackstone Publishing
Edition: Library Edition
ISBN: 9798212242028
Publication Date: 14 February 2023
Audience:
General/trade
,
General
Format: Audio
Publisher's Status: Active
Availability: In Print
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Reviews
Risky Business does the seemingly impossible: it makes insurance fun!...Throw out the economics textbooks--this is how people should learn economics! -- Steven D. Levitt, coauthor of Freakonomics The problem of hidden information is central to understanding insurance, and the nature of markets more generally. The very human cat-and-mouse stories that animate Risky Business are not only great fun; they also subtly reveal the basis of a great deal of economics. -- George Akerlof, Nobel Laureate in economics This book is a fascinating look at how insurance markets work (or don't). It's a must-read for people seeking to understand their own choices, and for policy makers who shape those options. -- Emily Oster, author of The Family Firm
"Risky Business does the seemingly impossible: it makes insurance fun!...Throw out the economics textbooks--this is how people should learn economics! -- ""Steven D. Levitt, coauthor of Freakonomics"" The problem of hidden information is central to understanding insurance, and the nature of markets more generally. The very human cat-and-mouse stories that animate Risky Business are not only great fun; they also subtly reveal the basis of a great deal of economics. -- ""George Akerlof, Nobel Laureate in economics"" This book is a fascinating look at how insurance markets work (or don't). It's a must-read for people seeking to understand their own choices, and for policy makers who shape those options. -- ""Emily Oster, author of The Family Firm"""
Author Information
Amy Finkelstein is the John and Jennie S. MacDonald Professor of Economics at MIT. Liran Einav is professor of economics at Stanford University. Ray Fisman is the Slater Family Chair in Behavioral Economics at Boston University.
