Replication data for: Health Insurance for "Humans": Information Frictions, Plan Choice, and Consumer Welfare
Principal Investigator(s): View help for Principal Investigator(s) Benjamin R. Handel; Jonathan T. Kolstad
Version: View help for Version V1
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| Code | 10/12/2019 01:16:AM | ||
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text/plain | 14.6 KB | 10/11/2019 09:16:PM |
Project Citation:
Handel, Benjamin R., and Kolstad, Jonathan T. Replication data for: Health Insurance for “Humans”: Information Frictions, Plan Choice, and Consumer Welfare. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E112949V1
Project Description
Summary:
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Traditional models of insurance choice are predicated on fully informed and rational consumers protecting themselves from exposure to financial risk. In practice, choosing an insurance plan is a complicated decision often made without full information. In this paper we combine new administrative data on health plan choices and claims with unique survey data on consumer information to identify risk preferences, information frictions, and hassle costs. Our additional friction measures are important predictors of choices and meaningfully impact risk preference estimates. We study the implications of counterfactual insurance allocations to illustrate the importance of distinguishing between these micro-foundations for welfare analysis. (JEL D81, D8 3, G22, I13)
Scope of Project
JEL Classification:
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D81 Criteria for Decision-Making under Risk and Uncertainty
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
G22 Insurance; Insurance Companies; Actuarial Studies
I13 Health Insurance, Public and Private
D81 Criteria for Decision-Making under Risk and Uncertainty
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
G22 Insurance; Insurance Companies; Actuarial Studies
I13 Health Insurance, Public and Private
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