The RAND Health Insurance Experiment, Three Decades Later : Journal of Economic Perspectives , 2013
The RAND Health Insurance Experiment, Three Decades Later : Journal of Economic Perspectives , 2013
From the document: "In the voluminous academic literature and public policy discourse on how health insurance affects medical spending, the famous RAND Health Insurance Experiment stands apart. Between 1974 and 1981, the RAND experiment provided health insurance to more than 5,800 individuals from about 2,000 households in six different locations across the United States, a sample designed to be representative of families with adults under the age of 62. The experiment randomly assigned the families to health insurance plans with different levels of cost sharing, ranging from full coverage (“free care”) to plans that provided almost no coverage for the fifi rst approximately $4,000 (in 2011 dollars) that were incurred during the year. The RAND investigators were pioneers in what was then relatively novel territory for the social sciences, both in the conduct and analysis of randomized experiments and in the economic analysis of moral hazard in the context of health insurance."
Authors - Aron-Dine, Aviva, Einav, Liran, Finkelstein, AmySubjects
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