How product standardization affects choice: Evidence from the Massachusetts Health Insurance Exchange.
This paper examines the effect of choice architecture on Massachusetts' Health Insurance Exchange. A policy change standardized cost-sharing parameters of plans across insurers and altered information presentation. Post-change, consumers chose more generous plans and different brands, but were not m...
| Publicado en: | Journal of Health Economics Vol. 50; pp. 71 - 86 |
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| Autores principales: | , |
| Formato: | research Journal Article |
| Publicado: |
Elsevier B.V.
Dec2016
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| Acceso en línea: | Ver este registro en EBSCOhost |
| Sumario: | This paper examines the effect of choice architecture on Massachusetts' Health Insurance Exchange. A policy change standardized cost-sharing parameters of plans across insurers and altered information presentation. Post-change, consumers chose more generous plans and different brands, but were not more price-sensitive. We use a discrete choice model that allows the policy to affect how attributes are valued to decompose the policy's effects into a valuation effect and a product availability effect. The brand shifts are largely explained by the availability effect and the generosity shift by the valuation effect. A hypothetical choice experiment replicates our results and explores alternative counterfactuals. |
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