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Inferring Risk Perceptions and Preferences Using Choice from Insurance Menus: Theory and Evidence.

Demand for insurance can be driven by high risk aversion or high-risk. We show how to separately identify risk preferences and risk types using only choices from menus of insurance plans. Our revealed preference approach does not rely on rational expectations, nor does it require access to claims da...

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Published in:Economic Journal Vol. 131; no. 634; pp. 713 - 745
Main Authors: Ericson, Keith Marzilli, Kircher, Philipp, Spinnewijn, Johannes, Starc, Amanda
Format: Article
Published: Oxford University Press / USA Feb2021
Subjects:
Massachusetts
Insurance
Risk perception
Health insurance exchanges
Menus
Online Access:View this record in EBSCOhost