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UID:20250915T172444EDT-82180ARUXI@132.216.98.100
DTSTAMP:20250915T212444Z
DESCRIPTION:Long-Term Care Insurance: Information Frictions and Selection\n
 \nDr. Pierre-Carl Michaud\n\nProfessor in the Applied Economics Department
  of HEC Montréal\n\nPierre-Carl Michaud is a Professor in the Applied Econ
 omics Department of HEC Montréal. He holds the Research Chair in Intergene
 rational Economics\, is the director of the Retirement and Savings Institu
 te at HEC Montréal and a Research Associate of the NBER’s Aging Program. H
 is research aims to understand life-cycle behaviour along a number of dime
 nsions including savings\, insurance and pensions\, as well as health inve
 stments and the economic consequences of demographic change. He has receiv
 ed funding from numerous organizations for this work and his research has 
 been published in top journals in economics\, demography and public health
 . In 2018\, he received the Marcel-Dagenais Award from the Société canadie
 nne de science économique (SCSE) for his research.\n\nAbout the presentati
 on\n\nWe conduct a stated-choice experiment where respondents are asked to
  rate various insurance products aimed to protect against financial risks 
 associated with long-term care needs. Using exogenous variation in prices 
 from the survey design and individual cost estimates\, these stated choice
  probabilities are used to predict market equilibrium for long-term care i
 nsurance. We find that information frictions are pervasive. We measure the
  welfare losses associated with these three causes in a framework that als
 o allows for selection. We show that information frictions reduce equilibr
 ium take-up and lead to large welfare loss while selection plays little ro
 le.\n\nPanel Discussion: Following the seminar\, there will be a panel of 
 disciplinary scientists from neuroscience\, management\, economics\, and c
 omputational sciences.\n
DTSTART:20200116T210000Z
DTEND:20200116T230000Z
LOCATION:Room 370\, Donald E. Armstrong Building\, CA\, QC\, Montreal\, H3A
  3L1\, 3420 rue McTavish
SUMMARY:Brain to Society: Decision and Behavior Seminar Series with Dr. Pie
 rre-Carl Michaud
URL:/desautels/channels/event/brain-society-decision-a
 nd-behavior-seminar-series-dr-pierre-carl-michaud-303872
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