Do time preferences explain low health insurance take‐up?

Low insurance take-up in low-income populations is not easily explained by the standard single-period expected utility model of that overlooks relevance time preference when liquidity constrained. We design field survey instruments to elicit quasi-hyperbolic preferences, as well prospect theory risk and use them examine whether preferences explain health behavior Filipinos. Consistent with theory, those stronger parameterized are less likely insure partial association most pronounced at low wealth where be Among better understanding insurance, lower also associated present bias. do find significantly preferences.