Health insurance, risk attitudes, and household financial behavior

被引：13

作者：

Li, Zhongda ^{[1
]}

Liu, Lu ^{[2
]}

Shi, Jiayu ^{[3
]}

Sui, Yubing ^{[4
]}

机构：

[1] Jinan Univ, Dept Econ, Guangzhou, Peoples R China

[2] Shanghai Univ Finance & Econ, Sch Econ, 777 Guoding Rd, Shanghai 200433, Peoples R China

[3] Kingdee Software China Co Ltd, Shenzhen, Peoples R China

[4] Shenzhen Univ, Coll Econ, Shenzhen, Peoples R China

来源：

HEALTH ECONOMICS | 2021年 / 30卷 / 05期

基金：

中国国家自然科学基金;

关键词：

health insurance; medical expenditure risk; portfolio choice; risk attitudes;

D O I：

10.1002/hec.4235

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Medical expenditure risk is widely believed to reduce households' willingness to bear other risks and in turn alter their behavior. In this paper, we investigate the role of health insurance in household financial decision. To this end, we consider a double-multinomial discrete-factor model of insurance choice and portfolio allocation. Using data from a Chinese household survey, we find that enrolling in a health insurance scheme with better policies is associated with a higher probability of owning risky assets. This positive effect is stronger for households with lower risk aversion. Our findings suggest that risk attitudes could indirectly influence portfolio outcomes through affecting households' responsiveness to changes in medical expenditure risk.

引用

页码：1239 / 1246

页数：8

共 17 条

[1] Household portfolio choices, health status and health care systems: A cross-country analysis based on SHARE [J].