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Heuristics and Heterogeneity in Health Insurance Exchanges: Evidence from the Massachusetts Connector.

We examine heuristic decision rules in consumer choice on health insurance exchanges using data from the Massachusetts Connector. Consumers may have difficulty making optimal choices in a complex environment. The heuristic 'choose the cheapest plan' is suggested by the decision context, previous res...

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Published in:American Economic Review Vol. 102; no. 3; pp. 493 - 498
Main Authors: Ericson, Keith Marzilli, Starc, Amanda
Format: Article
Published: American Economic Association May2012
Subjects:
Massachusetts
Heuristic
Heterogeneity
Health insurance
Consumer preferences
Insurance exchanges
Complexity (Philosophy)
Price sensitivity
Maximum likelihood statistics
Logits
Lognormal distribution
Heteroscedasticity
Online Access:View this record in EBSCOhost