IDEAS home Printed from https://ideas.repec.org/p/sdp/sdpwps/30.html
   My bibliography  Save this paper

Diseño de mercado para la provisión de Seguridad Social: El Caso del Seguro de Invalidez y Sobrevivencia

Author

Listed:
  • Gonzalo Reyes

    (Studies Division, Chilean Pension Supervisor)

Abstract

Como parte de la reforma previsional aprobada recientemente en Chile, el gobierno introdujo un mecanismo centralizado de subasta para el Seguro de Invalidez y Sobrevivencia (SIS) que cubre parte importante de los más de 8 millones de participantes en el sistema privado de pensiones obligatorias. Este documento es un estudio de caso que presenta las principales distorsiones que se encontraron en la operación descentralizada del sistema que llevó a esta reforma y los desafíos enfrentados en el diseño de un mecanismo de subasta que deben realizar conjuntamente las Administradoras de Fondos de Pensiones (AFP). Cuando cada AFP contrataba independiente este seguro con una compañía de seguros el proceso no era competitivo, las empresas relacionadas terminaban prestando el servicio y las distorsiones afectaron la competencia en el mercado a través de incentivos para el “descreme” de afiliados entre AFP, los esfuerzos para dificultar las solicitudes de pensiones de invalidez, la falta de transparencia de los precios y la barrera a la entrada que representaba el contrato de seguro. Subsidios cruzados, la ineficiencia en el pool de riesgo y el arbitraje regulatorio también estuvieron presentes. La experiencia chilena es relevante ya que otros sistemas privatizados que contemplan la prestación descentralizada de este seguro pueden presentar problemas similares a medida que maduran. Un mecanismo de licitación centralizado soluciona estos fallos de mercado, pero también da lugar a nuevos desafíos, como la manera de diseñar una subasta competitiva que atraiga la participación y disuada la colusión. Características de diseño que se recogieron en la regulación para hacer frente a estas cuestiones son presentadas aquí..

Suggested Citation

  • Gonzalo Reyes, 2009. "Diseño de mercado para la provisión de Seguridad Social: El Caso del Seguro de Invalidez y Sobrevivencia," Working Papers 30, Superintendencia de Pensiones, revised Sep 2009.
    • Handle: RePEc:sdp:sdpwps:30
    as

    Download full text from publisher

    File URL: https://repec.spensiones.cl/repec/3_doctrabajos/30_2009_diseno_mercado_provision_seguridad_social.pdf
    File Function: Revised version, 2009
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Alvin E. Roth, 2009. "What Have We Learned from Market Design?," Innovation Policy and the Economy, University of Chicago Press, vol. 9(1), pages 79-112.
    2. Steven Salop & Joseph Stiglitz, 1977. "Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 44(3), pages 493-510.
    3. Gonzalo Reyes & Rubén Castro, 2008. "Medidas Pro-Competencia de la Reforma Previsional," Working Papers 29, Superintendencia de Pensiones, revised Dec 2008.
    4. Eduardo Saavedra & Manuel Willington, 2008. "Diseño de la Subasta Optima para el Seguro de Invalidez y Sobreviviencia en Chile," ILADES-UAH Working Papers inv209, Universidad Alberto Hurtado/School of Economics and Business.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Reyes, Gonzalo, 2010. "Market design for the provision of social insurance: the case of disability and survivors insurance in Chile," Journal of Pension Economics and Finance, Cambridge University Press, vol. 9(3), pages 421-444, July.
    2. María Angélica Arbeláez & Jorge Humberto Botero & Alejandra González & Camila Salamanca, 2011. "Sostenibilidad del seguro previsional en Colombia," Working Papers Series. Documentos de Trabajo 9066, Fedesarrollo.
    3. Allen, Beth & Thisse, Jacques-Francois, 1992. "Price Equilibria in Pure Strategies for Homogeneous Oligopoly," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 1(1), pages 63-81, Spring.
    4. Atabek Atayev, 2021. "Nonlinear Prices, Homogeneous Goods, Search," Papers 2109.15198, arXiv.org.
    5. Muriel Niederle & Alvin E. Roth, 2009. "The Effects of a Centralized Clearinghouse on Job Placement, Wages, and Hiring Practices," NBER Chapters, in: Studies of Labor Market Intermediation, pages 235-271, National Bureau of Economic Research, Inc.
    6. Bergeaud, Antonin & Raimbault, Juste, 2020. "An empirical analysis of the spatial variability of fuel prices in the United States," Transportation Research Part A: Policy and Practice, Elsevier, vol. 132(C), pages 131-143.
    7. Scott Duke Kominers & Alexander Teytelboym & Vincent P Crawford, 2017. "An invitation to market design," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(4), pages 541-571.
    8. Canoy, Marcel & van Ours, Jan C. & van der Ploeg, Frederick, 2006. "The Economics of Books," Handbook of the Economics of Art and Culture, in: V.A. Ginsburgh & D. Throsby (ed.), Handbook of the Economics of Art and Culture, edition 1, volume 1, chapter 21, pages 721-761, Elsevier.
    9. Sullivan, Tom, 2022. "Price dispersion in the rideshare industry : a study of the Mexico City market," Warwick-Monash Economics Student Papers 40, Warwick Monash Economics Student Papers.
    10. Bergman , Mats A. & Granlund, David & Rudholm, Niklas, 2016. "Squeezing the last drop out of your suppliers: an empirical study of market-based purchasing policies for generic pharmaceuticals," Umeå Economic Studies 921, Umeå University, Department of Economics.
    11. Jäger, Simon & Roth, Christopher & Roussille, Nina & Schoefer, Benjamin, 2021. "Worker Beliefs about Outside Options," IZA Discussion Papers 14963, Institute of Labor Economics (IZA).
    12. Jeffrey M. Perloff & Steven C. Salop, 1985. "Equilibrium with Product Differentiation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 52(1), pages 107-120.
    13. Bester, Helmut & Petrakis, Emmanuel, 1995. "Price competition and advertising in oligopoly," European Economic Review, Elsevier, vol. 39(6), pages 1075-1088, June.
    14. Lin William Cong & Zhiguo He & Jiasun Li & Wei Jiang, 2021. "Decentralized Mining in Centralized Pools [Concentrating on the fall of the labor share]," The Review of Financial Studies, Society for Financial Studies, vol. 34(3), pages 1191-1235.
    15. Katja Seim & Michael Sinkinson, 2016. "Mixed pricing in online marketplaces," Quantitative Marketing and Economics (QME), Springer, vol. 14(2), pages 129-155, June.
    16. Sugden, Robert & Wang, Mengjie & Zizzo, Daniel John, 2019. "Take it or leave it: Experimental evidence on the effect of time-limited offers on consumer behaviour," Journal of Economic Behavior & Organization, Elsevier, vol. 168(C), pages 1-23.
    17. Sengupta Anirban & Wiggins Steven N., 2012. "Comparing Price Dispersion on and off the Internet Using Airline Transaction Data," Review of Network Economics, De Gruyter, vol. 11(1), pages 1-38, March.
    18. Heyes, Anthony & Kapur, Sandeep, 2012. "Angry customers, e-word-of-mouth and incentives for quality provision," Journal of Economic Behavior & Organization, Elsevier, vol. 84(3), pages 813-828.
    19. Maarten Janssen & Eric Rasmusen, 2002. "Bertrand Competition Under Uncertainty," Journal of Industrial Economics, Wiley Blackwell, vol. 50(1), pages 11-21, March.
    20. Walter Beckert, 2018. "An Empirical Analysis of Countervailing Power in Business-to-Business Bargaining," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 52(3), pages 369-402, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sdp:sdpwps:30. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Cristian Hernández (email available below). General contact details of provider: https://edirc.repec.org/data/spegvcl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.