Moral hazard induced unraveling: Theory and evidence from the Affordable Care Act

The authors have no relevant funding sources to disclose. The authors would like to thank Scott Atkinson, Jim Carson, Evan Eastman, Johannes Jasperson, Xiao Lin, Margaux Luflade, Anita Mukherjee, Peter Newberry, Richard Peter, Marc Ragin, Casey Rothschild, Tice Sirmans, Meghan Skira, Bill Vogt, Jackie Volkman-Wise, Sabine Wende, Juan Zhang, and seminar participants at The Southern Economics Association, The American Risk and Insurance Association, The CEAR/MRIC Behavioral Insurance Workshop, The Western Risk and Insurance Association, The Risk Theory Society, The University of Georgia, Temple University, The Federal Reserve Bank of Chicago, Emory University, The University of Iowa, St. John's University, The University of New Hampshire, Florida State University, Peking University, The University of Wisconsin, and The National Association of Insurance Commissioners.