Choice in Insurance Markets: A Pigouvian Approach to Social Insurance Design

Abstract

This review piece was prepared as a draft for the Annual Review of Economics 2021 edition and feedback is very welcome. We thank Sebastian Ernst for excellent research assistance and gratefully acknowledge support from the ERC (grants # 679704 and # 716485). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.