Are prescription drug insurance choices consistent with expected utility theory?

• Published in: Health psychology Vol. 32; no. 9; p. 986
• Main Authors: Bundorf, M Kate, Mata, Rui, Schoenbaum, Michael, Bhattacharya, Jay
• Format: Journal Article
• Language: English
• Published: United States 01.09.2013
• Subjects: Aged; Choice Behavior; Female; Financing, Personal - statistics & numerical data; Humans; Insurance, Pharmaceutical Services - economics; Male; Medicare - economics; Prescription Drugs - economics; Psychological Theory; United States; United States

To determine the extent to which people make choices inconsistent with expected utility theory when choosing among prescription drug insurance plans and whether tabular or graphical presentation format influences the consistency of their choices. Members of an Internet-enabled panel chose between tw...