Journal
JOURNAL OF APPLIED ECONOMETRICS
Volume 21, Issue 7, Pages 1081-1099Publisher
WILEY
DOI: 10.1002/jae.891
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This paper studies the effect of managed care on medical expenditure using a model in which the insurance status is assumed to be endogenous. Insurance plan choice is modeled through the multinomial probit model. The medical expenditure Variable, the outcome of interest, has a significant proportion of zeros that are handled using the two-part model, extended to handle endogenous insurance. The estimation approach is Bayesian, based on the Gibbs Sampler. The model is applied to a sample of 20460 individuals obtained from the Medical Expenditure Panel Survey. The results provide substantial evidence of selectivity. Copyright (c) 2006 John Wiley & Sons, Ltd.
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