비대칭적 정보의 검증에서 발생 가능한 가성적 상관관계: 자동차보험데이터의 경우

Title
비대칭적 정보의 검증에서 발생 가능한 가성적 상관관계: 자동차보험데이터의 경우
Other Titles
Spurious Correlation in Testing for Asymmetric Information: The Case of Automobile Insurance Data
Author(s)
이용우
Keywords
보험; 비대칭적 정보; 계량경제; 가성적 상관관계; Insurance; Asymmetric Information; Econometrics; Spurious Correlation
Issue Date
201206
Publisher
연세대학교 경제연구소
Citation
한국경제학보(구 연세경제연구), v.19, no.1, pp.3 - 16
Abstract
We examine the possibility of spurious conditional correlation in testing for asymmetric information in the context of the automobile insurance contracts. An important characteristic of insurance data is that the insurer can observe only claims, not accidents. As pointed in Chiappori(2000), this may cause a spurious correlation in the conditional correlation approach. In particular, it may be that certain losses are only covered under more comprehensive contracts and are only reported by a policyholder who has indeed purchased this more comprehensive insurance. Using a rich data set obtained from a major automobile insurance firm in Korea, we found out the possibility of spurious conditional correlation. Considering claims involving only bodily injuries enables us to overcome this problem. Using claims involving 2 vehicles is still susceptible to the problem.
URI
http://hdl.handle.net/YU.REPOSITORY/27733
ISSN
1225-8261
Appears in Collections:
상경대학 > 경제금융학부 > Articles
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