CEPAR Chief Investigator Michael Keane, along with Associate Investigator Olena Stavrunova, have won the 2015-16 Dennis Aigner Award, for the best paper in the Journal of Econometrics over the 2015-2016 period.
The paper, titled “Adverse Selection, Moral Hazard and the Demand for Medigap Insurance”, was published in 2016. It focuses on a well-established market featuring asymmetric information: the supplementary insurance market for older Americans, Medigap. The paper develops strong evidence germane to policy design options, for example the expected government outlays that might follow mandating Medigap purchase, as well as developing various technical innovations.
An early version of the paper appeared in the CEPAR Working Paper series in 2011, and is on the CEPAR website.