Land Economy, Environment & Society
Scotland’s Rural College (SRUC)
Peter Wilson Building
West Mains Road
Edinburgh EH9 3JG
Institutional Affiliation: SRUC Edinburgh, UK
Information about this author at RePEc
NBER Working Papers and Publications
|July 2019||Uninsured by Choice? A Choice Experiment on Long Term Care Insurance|
with Joan Costa-Font, Richard Frank: w26118
We examine evidence from two unique discrete choice experiments (DCE) on long term care insurance and several of its relevant attributes, and more specifically, choices made by 15,298 individuals in the United States with and without insurance. We study the valuation of the following insurance attributes, namely daily insurance benefit, insurance coverage, the compulsory and voluntary nature of the insurance policy design, alongside the costs (insurance premium) and health requirements. This paper investigates respondents’ preferences and willingness to pay (WTP) for these care insurance’s attributes using a random parameter logit model, and assess the heterogeneity of choice responses using demographic, socioeconomic and attitudinal motivations to segment response to insurance choices. ...
Published: Faical Akaichi & Joan Costa-Font & Richard Frank, 2019. "Uninsured by Choice? A choice experiment on long term care insurance," Journal of Economic Behavior & Organization, .