From: Price elasticity of demand for voluntary health insurance plans in Colombia
Variable | (1) | (2) | (3) |
---|---|---|---|
All | Non-informal | Middle-income or higher | |
Premium semi-elasticity, AME (\({p}_{i}\)) | -0.0194*** | -0.0206*** | -0.0346*** |
(0.00352) | (0.00413) | (0.00715) | |
Income semi-elasticity, AME (\({y}_{i}\)) | 0.0144*** | 0.0166*** | 0.0284*** |
(0.00170) | (0.00170) | (0.00295) | |
Observations | 41,153 | 14,378 | 8320 |
Proportion who spent on VPHI, E[\({vphi}_{i}\)] | 0.00416 | 0.00862 | 0.0149 |
Calculated price elasticity (\({\varepsilon }_{p}\)) | -4.674 | -2.389 | -2.324 |
p-value | 0.000 | 0.000 | 0.000 |
Calculated income elasticity (\({\varepsilon }_{y}\)) | 3.459 | 1.921 | 1.905 |
p-value | 0.000 | 0.000 | 0.000 |