Abstract:We examined changes in personal life insurance purchase decisions after a public health event by incorporating perceived health risk and regret into the expected utility function.The model predicts that the epidemic will create incremental insurance demand. Based on the 2003 severe acute respiratory syndrome outbreak in China, we used a panel dataset of 30 provinces from 2000 to 2007 and applied the difference-in-differences method to confi rm the prediction empirically. The results showed that the epidemic di… Show more
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