Policy Choice and Product Bundling in a Complicated Health Insurance Market →

Kettlewell, N

Policy Choice and Product Bundling in a Complicated Health Insurance Market →

Kettlewell, N

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Publisher:: University of Wisconsin Press
Publication Type:: Journal Article
Citation:: Journal of Human Resources, 2020, 55, (2), pp. 566-610
Issue Date:: 2020-01-01

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Field	Value	Language
dc.contributor.author	Kettlewell, N https://orcid.org/0000-0002-0478-1372
dc.date.accessioned	2021-03-28T03:36:17Z
dc.date.available	2021-03-28T03:36:17Z
dc.date.issued	2020-01-01
dc.identifier.citation	Journal of Human Resources, 2020, 55, (2), pp. 566-610
dc.identifier.issn	0022-166X
dc.identifier.issn	1548-8004
dc.identifier.uri	http://hdl.handle.net/10453/147565
dc.description.abstract	© 2020 by the Board of Regents of the University of Wisconsin System Understanding how consumers choose health insurance and the quality of those choices is crucial information for policymakers. This paper uses a choice experiment to evaluate choice quality and how this interacts with an important form of complexity—product bundling. The results indicate that consumers are likely to make choices that violate expected utility theory, use heuristic decision strategies, and overinsure relative to minimizing out-of-pocket costs. Product bundling is found to exacerbate all of these tendencies. The experimental approach used overcomes some limitations of revealed preference research in this area, such as the endogeneity of choosing bundled insurance.
dc.language	en
dc.publisher	University of Wisconsin Press
dc.relation.ispartof	Journal of Human Resources
dc.relation.isbasedon	10.3368/jhr.55.2.0417-8689R1
dc.rights	info:eu-repo/semantics/closedAccess
dc.subject	1402 Applied Economics, 1801 Law
dc.subject.classification	Economics
dc.title	Policy Choice and Product Bundling in a Complicated Health Insurance Market →
dc.type	Journal Article
utslib.citation.volume	55
utslib.for	1402 Applied Economics
utslib.for	1801 Law
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Economics Discipline
utslib.copyright.status	closed_access	*
dc.date.updated	2021-03-28T03:36:12Z
pubs.issue	2
pubs.publication-status	Published
pubs.volume	55
utslib.citation.issue	2

Abstract:

© 2020 by the Board of Regents of the University of Wisconsin System Understanding how consumers choose health insurance and the quality of those choices is crucial information for policymakers. This paper uses a choice experiment to evaluate choice quality and how this interacts with an important form of complexity—product bundling. The results indicate that consumers are likely to make choices that violate expected utility theory, use heuristic decision strategies, and overinsure relative to minimizing out-of-pocket costs. Product bundling is found to exacerbate all of these tendencies. The experimental approach used overcomes some limitations of revealed preference research in this area, such as the endogeneity of choosing bundled insurance.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/147565