Narrow Framing and Long-Term Care Insurance

被引：35

作者：

Gottlieb, Daniel ^{[1
]}

Mitchell, Olivia S. ^{[2
]}

机构：

[1] Washington Univ, St Louis, MO 63110 USA

[2] Univ Penn, Philadelphia, PA 19104 USA

来源：

JOURNAL OF RISK AND INSURANCE | 2020年 / 87卷 / 04期

关键词：

MYOPIC LOSS AVERSION; PROSPECT-THEORY; PRIVATE INFORMATION; RISK-AVERSION; DEMAND; CHOICE; UTILITY; HEALTH; PSYCHOLOGY; ANOMALIES;

D O I：

10.1111/jori.12290

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We propose a model of narrow framing in insurance and test it using data from a new module we designed and fielded in the Health and Retirement Study. We show that respondents subject to narrow framing are substantially less likely to buy long-term care insurance than average. This effect is much larger than the effects of risk aversion or adverse selection, and it offers a new explanation for why people underinsure their later-life care needs.

引用

页码：861 / 893

页数：33

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[2]

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