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Eliciting the demand for long-term care coverage: a discrete choice modelling analysis

✍ Scribed by Rinaldo Brau; Matteo Lippi Bruni

Publisher: John Wiley and Sons
Year: 2008
Tongue: English
Weight: 226 KB
Volume: 17
Category: Article
ISSN: 1057-9230
DOI: 10.1002/hec.1271

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✦ Synopsis

Abstract

We evaluate the demand for long‐term care (LTC) insurance prospects in a stated preference context, by means of the results of a choice experiment carried out on a representative sample of the Emilia‐Romagna population. In this paper, these methods are first of all used in order to assess the relative importance of the characteristics that define hypothetical insurance programmes and to elicit the willingness to pay for some LTC coverage prospects. Moreover, thanks to the application of a nested logit specification with ‘partial degeneracy’, we are able to model the determinants of the preference for status quo situations where no systematic cover for LTC exists. On the basis of this empirical model, we test for the effects of a series of socio‐demographic variables as well as personal and household health‐state indicators. Copyright © 2007 John Wiley & Sons, Ltd.

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