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Measuring the Welfare Losses from Asymmetric Information in Insurance Markets

Research Project

Project/Area Number 23730261
Research Category

Grant-in-Aid for Young Scientists (B)

Allocation TypeMulti-year Fund
Research Field Applied economics
Research InstitutionMeiji Gakuin University (2012-2014)
Tezukayama University (2011)

Principal Investigator

SAITO Kuniyoshi  明治学院大学, 経済学部, 准教授 (00376964)

Project Period (FY) 2011-04-28 – 2015-03-31
Project Status Completed (Fiscal Year 2014)
Budget Amount *help
¥4,030,000 (Direct Cost: ¥3,100,000、Indirect Cost: ¥930,000)
Fiscal Year 2013: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2012: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2011: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Keywords情報の非対称性 / 逆選択 / モラルハザード / 保険 / 厚生 / 自動車保険 / 年金 / 中小企業金融 / 社会厚生
Outline of Final Research Achievements

We have examined the role of asymmetric information in the real economy. We have measured how much inefficiency created by asymmetric information, and then explored the better policy. In the automobile insurance market, we estimated that the loss from adverse selection and/or moral hazard was 1,000 yen compared to the premium of 7,000 yen. In the credit guarantee scheme, we found that our data was consistent with adverse selection and moral hazard hypotheses, and that the role of deductibles are effectively working, if not perfectly eliminate the inefficiency. In the annuity market, we obtained the results that the people with public pension live longer than those without, which is consistent with adverse selection story. We have also measured the loss from asymmetric information, but we are still working on it because our tentative estimates rely heavily on some strong assumptions.

Report

(5 results)
  • 2014 Annual Research Report   Final Research Report ( PDF )
  • 2013 Research-status Report
  • 2012 Research-status Report
  • 2011 Research-status Report
  • Research Products

    (10 results)

All 2015 2014 2013 2011 Other

All Journal Article (2 results) (of which Open Access: 1 results) Presentation (6 results) Remarks (2 results)

  • [Journal Article] Information Asymmetry in SME Credit Guarantee Schemes: Evidence from Japan2014

    • Author(s)
      Kuniyoshi Saito and Daisuke Tsuruta
    • Journal Title

      RIETI Discussion Paper

      Volume: 14-E-042 Pages: 1-39

    • Related Report
      2014 Annual Research Report
    • Open Access
  • [Journal Article] 保険市場における情報の非対称性―実証研究のサーベイ―2011

    • Author(s)
      斉藤都美
    • Journal Title

      損害保険研究

      Volume: 73 Pages: 147-174

    • NAID

      130007877762

    • Related Report
      2011 Research-status Report
  • [Presentation] Information Asymmetry in SME Credit Guarantee Schemes: Evidence from Japan2015

    • Author(s)
      Kuniyoshi Saito
    • Organizer
      World Finance & Banking Symposium in Singapore
    • Place of Presentation
      Nanyang Business School, Singapore
    • Year and Date
      2015-12-12 – 2015-12-13
    • Related Report
      2014 Annual Research Report
  • [Presentation] Information Asymmetry in SME Credit Guarantee Schemes: Evidence from Japan2015

    • Author(s)
      Kuniyoshi Saito
    • Organizer
      Western Economic Association 11th International Conference
    • Place of Presentation
      Museum of New Zealand Te Papas, New Zealand
    • Year and Date
      2015-01-11
    • Related Report
      2014 Annual Research Report
  • [Presentation] Side effects of Demand-Supply Adjustment Policy in the Taxi Industry2014

    • Author(s)
      斉藤都美
    • Organizer
      Further Development of Dynamics Economic Research 2014 Spring Edition of Hayama Meeting
    • Place of Presentation
      日本生産性本部
    • Related Report
      2013 Research-status Report
  • [Presentation] Deregulation and Safety: Evidence from Taxicab Industry2013

    • Author(s)
      斉藤都美
    • Organizer
      日本経済学会
    • Place of Presentation
      富山大学
    • Related Report
      2013 Research-status Report
  • [Presentation] Deregulation and Safety: Evidence from Taxicab Industry2013

    • Author(s)
      斉藤都美
    • Organizer
      Annual Conference of the International Transportation Economics Association (Kuhmo Nectar Conference on Transportation Economics)
    • Place of Presentation
      Northwestern University
    • Related Report
      2013 Research-status Report
  • [Presentation] Deregulation and Safety: Evidence from Taxicab Industry2013

    • Author(s)
      斉藤都美
    • Organizer
      Urban Economics Workshop
    • Place of Presentation
      政策研究大学院大学
    • Related Report
      2013 Research-status Report
  • [Remarks] Kuniyoshi Saito's homepage

    • URL

      http://www.meijigakuin.ac.jp/~kuniyosh/research.html

    • Related Report
      2013 Research-status Report
  • [Remarks] 斉藤都美のホームページ

    • URL

      http://www.meijigakuin.ac.jp/~kuniyosh/research.html

    • Related Report
      2012 Research-status Report

URL: 

Published: 2011-08-05   Modified: 2019-07-29  

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