The theory of demand for health insurance:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Stanford, Calif.
Stanford Univers. Press
2003
|
| Ausgabe: | Orig. print. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Literaturverz. S. [180] - 193 |
| Beschreibung: | XIV, 201 S. graph. Darst. |
| ISBN: | 0804744882 |
Internformat
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| 245 | 1 | 0 | |a The theory of demand for health insurance |c John A. Nyman |
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Datensatz im Suchindex
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|---|---|
| adam_text | TABLE OF CONTENTS
Preface xiii
1. Introduction 1
Controversies 1
Overview of the New Theory 2
Overview of the Book 3
Intuition 5
Notes 7
2. Conventional Theory and Anomalies 8
History 8
von Neumann Morgenstern (vNM) Utility Function 12
Conventional Expected Utility Theory 16
The Moral Hazard Welfare Loss 19
Anomalies 21
Moral Hazard Is Welfare Decreasing 21
Contingent Claims Insurance Payoffs Have No Income Effects 22
Consumers Prefer Certain Losses 24
Risk Preferences Derive Only from Diminishing Marginal
Utility 25
Insurance at Current Coverage Parameters Is Welfare
Decreasing 26
Summary 27
Notes 29
viii CONTENTS
3. New Theory 30
Overview 30
Model 30
Graphical Model 34
Decision to Purchase Insurance 37
Extreme Cases and Examples 38
Contingent Claims versus Price Payoff Insurance Contracts 41
The Physician and Substitutability of Medical Care for
Other Goods and Services 43
Payoffs, Treatment Costs, and Full Coverage 44
Adverse Selection and Moral Hazard 44
Welfare Consequences at the Margin 46
Summary 47
Note 48
4. Expected Utility Theory from a Quid Pro Quo
Perspective 49
Overview 49
Expected Utility Theory Respecified 49
Derivation of the Quid Pro Quo Specification 53
Prospect Theory 54
Focusing on the Insurance Contract 56
Additional Considerations 58
Importance and Implications 60
Appendix: The Gain Specification 63
Note 66
5. Access Value of Health Insurance 67
Introduction 67
Model 68
Prevalence of the Access Motive 70
Access Valuation of a Given Procedure 71
Estimating Willingness to Pay 72
Valuing Outcomes 73
Specific Disease Example 74
Access Value from Cost Utility League Tables 75
Access Value Using the NMES 77
Charity Care 78
Importance of the Access Motive 79
Note 80
ix CONTENTS
6. Welfare Loss from Moral Hazard 81
Ex Post Moral Hazard 81
Pauly s Moral Hazard Welfare Loss 82
Overview of the Rest of the Chapter 84
Taxonomy of Price Change Decompositions 84
Hicksian Decomposition Holding Utility Constant 85
Friedman/Slutsky Decomposition Holding Real Income
Constant 86
New Decomposition Holding Nominal Income Constant 87
Welfare Loss from Insurance 88
Mathematical Expression of the Welfare Loss 90
Marshallian Demand Curve Price Effect 91
Hicksian Demand Curve Price Effect 91
New Demand Curve Price Effect 92
Estimating the Welfare Loss from the Price Effect 92
Coinsurance Rate 93
Marshallian Price Elasticity of Demand 93
Medical Care Spending Share 95
Income Elasticity of Demand 97
Estimates of the Relative Welfare Loss 98
Implications 99
Notes 101
7. Welfare Gain from Moral Hazard 102
Overview 102
Moral Hazard as Specific Health Care 103
Evaluating Moral Hazard 107
An Estimate of the Welfare Gain 109
Literature on Health Insurance and Health 110
Estimating the Welfare Gain 112
Refinements of the Analysis 114
The Welfare Gain from Moral Hazard
Diagrammatically 116
Conclusions 118
Notes 120
8. Why Health Insurance Is Sometimes Not Purchased 122
Introduction 122
Charity and Medicaid 123
x CONTENTS
Risk 126
Risk and the Very Poor 126
Digression on Gambling and Insurance 128
Separating Risk Preferences from the Bernoulli Utility
Function 133
Loading Fees and Premiums 136
Price Related Moral Hazard 137
Adverse Selection 139
Physician Induced Demand 140
Conclusions 140
Notes 142
9. Policy Implications 143
Cost Containment 143
Cost Sharing 144
Coinsurance and Moral Hazard 145
Calculating the Effect of Coinsurance on Efficient
Moral Hazard 147
Rice s Theory 149
Managed Care 151
A Price Reduction Strategy 152
Optimal Health Insurance Design 153
Insuring the Uninsured 155
The Case for Intervention: Medicare 156
The Case for Tax Subsidies 157
Technology Growth as Moral Hazard 159
Conclusions 161
Notes 162
10. Conclusions 164
The Theory Summarized 164
The Price Payoff Mechanism, The Value of Health Care,
and National Health Insurance 166
Potential Weaknesses 167
Different Income Elasticities for the Healthy and III 167
Blank Check Argument 169
Consumer s Income Payoff Test 170
Health Care for the Healthy 170
xi CONTENTS
Limitations 171
Future Empirical Work 172
A Cautionary Word 174
Intuition Revisited 177
Notes 179
References 180
Index 195
|
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| indexdate | 2024-07-09T19:04:04Z |
| institution | BVB |
| isbn | 0804744882 |
| language | English |
| lccn | 2002026922 |
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| spelling | Nyman, John A. Verfasser aut The theory of demand for health insurance John A. Nyman Orig. print. Stanford, Calif. Stanford Univers. Press 2003 XIV, 201 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Literaturverz. S. [180] - 193 Insurance, Health -- United States Demand (Economic theory) Medical economics -- United States Gesundheitsökonomie (DE-588)4130935-2 gnd rswk-swf Krankenkasse (DE-588)4120613-7 gnd rswk-swf USA USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Krankenkasse (DE-588)4120613-7 s Gesundheitsökonomie (DE-588)4130935-2 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009920473&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Nyman, John A. The theory of demand for health insurance Insurance, Health -- United States Demand (Economic theory) Medical economics -- United States Gesundheitsökonomie (DE-588)4130935-2 gnd Krankenkasse (DE-588)4120613-7 gnd |
| subject_GND | (DE-588)4130935-2 (DE-588)4120613-7 (DE-588)4078704-7 |
| title | The theory of demand for health insurance |
| title_auth | The theory of demand for health insurance |
| title_exact_search | The theory of demand for health insurance |
| title_full | The theory of demand for health insurance John A. Nyman |
| title_fullStr | The theory of demand for health insurance John A. Nyman |
| title_full_unstemmed | The theory of demand for health insurance John A. Nyman |
| title_short | The theory of demand for health insurance |
| title_sort | the theory of demand for health insurance |
| topic | Insurance, Health -- United States Demand (Economic theory) Medical economics -- United States Gesundheitsökonomie (DE-588)4130935-2 gnd Krankenkasse (DE-588)4120613-7 gnd |
| topic_facet | Insurance, Health -- United States Demand (Economic theory) Medical economics -- United States Gesundheitsökonomie Krankenkasse USA |
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