Eliciting the Demand for Long Term Care Coverage: A Discrete Choice Modelling Analysis

Rinaldo Brau () and Matteo Lippi Bruni ()

No 2006.71, Working Papers from Fondazione Eni Enrico Mattei

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. Choice modelling techniques have not been used yet for studying the demand for LTC services. In this paper these methods are first of all used in order to assess the relative importance of the characteristics which define some 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.

Keywords: Health Insurance; Long Term Care; Choice Experiments; Nested Logit Models (search for similar items in EconPapers)
JEL-codes: C25 H40 I11 I18 (search for similar items in EconPapers)
Date: 2006-05
New Economics Papers: this item is included in nep-dcm, nep-hea and nep-ias
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Working Paper: Eliciting the Demand for Long Term Care Coverage: A Discrete Choice Modelling Analysis (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:2006.71

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