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Risk attitudes and Medicare Part D enrollment decisions

Author

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  • Vetter, Stefan
  • Heiss, Florian
  • McFadden, Daniel L.
  • Winter, Joachim

Abstract

In this study we investigate if risk attitudes explain non-enrollment into Medicare Part D. We find that respondents who are risk-tolerant as measured by the willingness-to-pay for a hypothetical insurance were significantly less likely to enroll in Part D.

Suggested Citation

  • Vetter, Stefan & Heiss, Florian & McFadden, Daniel L. & Winter, Joachim, 2013. "Risk attitudes and Medicare Part D enrollment decisions," Munich Reprints in Economics 19703, University of Munich, Department of Economics.
    • Handle: RePEc:lmu:muenar:19703
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    Cited by:

    1. Marcela V. Parada‐Contzen, 2019. "The Value of a Statistical Life for Risk‐Averse and Risk‐Seeking Individuals," Risk Analysis, John Wiley & Sons, vol. 39(11), pages 2369-2390, November.
    2. Xiaodong Du & Hongli Feng & David A. Hennessy, 2017. "Rationality of Choices in Subsidized Crop Insurance Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 99(3), pages 732-756.
    3. Decker, Simon & Schmitz, Hendrik, 2016. "Health shocks and risk aversion," Journal of Health Economics, Elsevier, vol. 50(C), pages 156-170.
    4. Francesco Decarolis & Maria Polyakova & Stephen P. Ryan, 2020. "Subsidy Design in Privately Provided Social Insurance: Lessons from Medicare Part D," Journal of Political Economy, University of Chicago Press, vol. 128(5), pages 1712-1752.
    5. Xiaodong Du & Hongli Feng & David A. Hennessy, 2017. "Rationality of Choices in Subsidized Crop Insurance Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 99(3), pages 732-756.

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    More about this item

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • I1 - Health, Education, and Welfare - - Health

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