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...
| Publicado en: | American Economic Review Vol. 102; no. 3; pp. 493 - 498 |
|---|---|
| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
American Economic Association
May2012
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=75368012&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 75368012 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00028282 AER jtl: American Economic Review issn: 00028282 maglogo: N pubinfo: dt: May2012 vid: 102 iid: 3 pid: 22 pub: American Economic Association artinfo: ui: 75368012 10.1257/aer.102.3.493 ppf: 493 ppct: 5 formats: tig: atl: Heuristics and Heterogeneity in Health Insurance Exchanges: Evidence from the Massachusetts Connector. aug: au: Ericson, Keith Marzilli Starc, Amanda affil: a1 a2 su: Massachusetts Heuristic Heterogeneity Health insurance Consumer preferences Insurance exchanges Complexity (Philosophy) Price sensitivity Maximum likelihood statistics Logits Lognormal distribution Heteroscedasticity sug: subj: Heuristic Heterogeneity Health insurance Consumer preferences Massachusetts All Other Insurance Related Activities Direct group life, health and medical insurance carriers Direct individual life, health and medical insurance carriers Insurance exchanges Complexity (Philosophy) Price sensitivity Maximum likelihood statistics Logits Lognormal distribution Heteroscedasticity ab: 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 research, and the data: about 20% of enrollees choose the cheapest plan possible. We find evidence of this heuristic in many models, but while heuristics may play a role, preference heterogeneity is also important. Our most flexible models find an insignificant heuristic effect. In part because holding context fixed, this heuristic is observationally equivalent to extreme price sensitivity. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|