The Role of Wealth and Health in Insurance Choice : Bivariate Probit Analysis in China
Joint Authors
Source
Mathematical Problems in Engineering
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-9, 9 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-03-13
Country of Publication
Egypt
No. of Pages
9
Main Subjects
Abstract EN
This paper captures the correlation between the choices of health insurance and pension insurance using the bivariate probit model and then studies the effect of wealth and health on insurance choice.
Our empirical evidence shows that people who participate in a health care program are more likely to participate in a pension plan at the same time, while wealth and health have different effects on the choices of the health care program and the pension program.
Generally, the higher an individual’s wealth level is, the more likelihood he will participate in a health care program; but wealth has no effect on the participation of pension.
Health status has opposite effects on choices of health care programs and pension plans; the poorer an individual’s health is, the more likely he is to participate in health care programs, while the better health he enjoys, the more likely he is to participate in pension plans.
When the investigation scope narrows down to commercial insurance, there is only a significant effect of health status on commercial health insurance.
The commercial insurance choice and the insurance choice of the agricultural population are more complicated.
American Psychological Association (APA)
Yue, Yiding& Zou, Jinyou. 2014. The Role of Wealth and Health in Insurance Choice : Bivariate Probit Analysis in China. Mathematical Problems in Engineering،Vol. 2014, no. 2014, pp.1-9.
https://search.emarefa.net/detail/BIM-488877
Modern Language Association (MLA)
Yue, Yiding& Zou, Jinyou. The Role of Wealth and Health in Insurance Choice : Bivariate Probit Analysis in China. Mathematical Problems in Engineering No. 2014 (2014), pp.1-9.
https://search.emarefa.net/detail/BIM-488877
American Medical Association (AMA)
Yue, Yiding& Zou, Jinyou. The Role of Wealth and Health in Insurance Choice : Bivariate Probit Analysis in China. Mathematical Problems in Engineering. 2014. Vol. 2014, no. 2014, pp.1-9.
https://search.emarefa.net/detail/BIM-488877
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-488877