Aim With the development of the social economy, commercial health insurance in China has
gradually been recognized by residents, but it is still in the initial stage of the market. To …

Theoretically, wealthier people should buy less insurance, and should self-insure through
saving instead, as insurance entails monitoring costs. Here, we use administrative data for …

Insurance choices are often hard to rationalize by standard theory and frequently appear
suboptimal. A key reason may be that people are unable to map the cost-sharing features of …

We provide a comprehensive analysis of the impact of probability weighting on optimal
insurance demand in a unified framework. We identify decreasing relative overweighting as …

Low insurance take‐up in low‐income populations is not easily explained by the standard
single‐period expected utility model of insurance that overlooks the relevance of time …

How does risk aversion change in wealth? To answer this question, we implemented a field
experiment in the form of a free-to-play mobile game. Players made lottery choices at …

An important societal problem is that people underinsure against risks that are unlikely or
occur in the far future, such as natural disasters and long-term care needs. One explanation …

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 …

This study examines the determinants of life insurance ownership with a focus on rural areas
and farming households in the United States. Utilizing data from online surveys conducted in …

The ability to run experiments, or to see natural data as a quasi-experiment, does not free
one from the need for theory when evaluating insurance behavior. Theory can be used to …