The Coexistence of Adverse Selection and Advantageous Selection Phenomenon in China's Health Insurance Market
利用中国个人健康保险市场数据，检验了不对称信息模型，发现高风险投保人购买更多附加险但保额更低，表明财富和风险偏好异质性导致逆向选择与正向选择并存。
This paper empirically tests the asymmetric information models by using the data of Chinas personal health insurance market.The results show that higher-risk policyholders tend to buy more additional insurance, but less insurance amount,which seems contrary to the standard model's prediction.The theoretical analysis shows that it is the heterogeneity in policyholders' wealth and risk preference and the asymmetric information that leads to the coexistence of adverse selection and advantageous selection in China's health insurance market.