Heterogeneity in health insurance choice : an experimental investigation of consumer choice and feature preferences

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      <subfield code="a">Heterogeneity in health insurance choice</subfield>
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      <subfield code="a">This study examines heterogeneity in health insurance choices through a controlled laboratory experiment. Participants selected plans with varying premiums, deductibles, and complementary coverage, and their individual risk preferences were later measured using a rank-dependent expected utility model. The results show substantial variation in willingness to pay, a general tendency to pay above expected value for low-probability high-cost risks, and evidence of heuristic-driven decisions. The study identifies several decision profiles and concludes that neither normative nor descriptive models fully capture the observed behavior</subfield>
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      <subfield code="g">17/11/2025 Volumen 92 Número 4 - noviembre 2025 , p. 1096 - 1121</subfield>
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