Glenn W. Harrison , Nadja Kairies-Schwarz , Johann Han
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Deductibles and health care utilization: An experiment on the role of forward-looking behavior
We investigate the effects of nonlinear deductible contracts on health utilization behavior by using a laboratory experiment in which we can control the likelihood of hitting the deductible. We also evaluate the effect of subjects receiving regular information updates on their remaining deductible. Our results show that varying the future price has a significant effect on health care consumption. At an individual level, we identify and richly characterize heterogeneity. We find fully forward-looking, fully myopic, as well as mixed types after controlling for risk preferences. We show that there is a substantial welfare loss due to a lack in forward-looking behavior. The distribution of the welfare loss are characterized and differ sharply according to the model of risk preferences adopted for normative evaluation. Potential drivers of welfare effects are investigated and have a tendency to differ across risk preference models.
期刊介绍:
The Journal of Economic Behavior and Organization is devoted to theoretical and empirical research concerning economic decision, organization and behavior and to economic change in all its aspects. Its specific purposes are to foster an improved understanding of how human cognitive, computational and informational characteristics influence the working of economic organizations and market economies and how an economy structural features lead to various types of micro and macro behavior, to changing patterns of development and to institutional evolution. Research with these purposes that explore the interrelations of economics with other disciplines such as biology, psychology, law, anthropology, sociology and mathematics is particularly welcome.