Paper Information

Journal:   THE ECONOMIC RESEARCH   WINTER 2007 , Volume 6 , Number 4; Page(s) 67 To 82.
 
Paper: 

ESTIMATING DEMAND FUNCTION FOR SUPPLEMENTARY HEALTH INSURANCE CASE STUDY: IRAN INSURANCE CORPORATION

 
 
Author(s):  HADIAN M., GHADERI H., MOEINI M.
 
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Abstract: 
Supplementary health insurance, a newly-founded field in insurance industry in Iran can not cover the expensive treatment costs of patients. Panel Data technique and random effects model have been used in this research to analyze the effective factors on supplementary health insurance demand via a case study of Iran Insurance Corporation in selected 24 provinces. Based on the received results of Hausman test and Lagrange multiplier test, respectively the estimation consistence on random effects model and existence of random effects was confirmed. According to the result of demand function estimation on this model between1996 - 2003, per capita income, expected care expenditure, and expected inflation rate are the most crucial in demand of such insurance policies. Income elasticity and expected health expenditure elasticity of demand function have been estimated, 0.08 %0 and 2 %, respectively, confirming the low elasticity of supplementary health insurance demand due to these variables. Demand elasticity of such insurance policies has been calculated 1.8 % to the expected inflation rate and therefore, implies the demand elasticity due to the above-mentioned variable.
 
Keyword(s): SUPPLEMENTARY HEALTH INSURANCE, HEALTH INSURANCE DEMAND, PANEL DATA TECHNIQUE, RANDOM EFFECT MODEL
 
References: 
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