Table 1.

Definitions of variables.

Variable	Definition
Outcomes: Health plan choice
Voluntary deductible	Annual deductible in two categories: 1 for voluntary deductible: CHF 500, 1,000, 1,500, 2,000, 2,500 0 for standard deductible: CHF 300
Alternative plan	1 for an alternative plan (managed care), 0 for standard basic plan
Supplementary insurance	1 for supplementary hospital insurance, 0 no supplementary hospital insurance
Explanatory variables
Socioeconomic and demographic characteristics
Female	1 for females, 0 for males
Age	Divided into five age groups: 26–35, 36–45, 46–55, 56–65, 66+
Education	Highest educational attainment in 3 categories: low, intermediate, and high level
Log income	Log of equivalized yearly net household income
Married	1 for married, 0 for not married
Urban	Typology of Community: urban vs. rural
Health-related factors
Good health	Self-rated health status: 1 for good health, 0 for fair or poor health
Chronic	1 for chronic health conditions, 0 no chronic illness
Doctor visits	Doctor consultations in the year preceding the date of the interview: 1 for yes, 0 for no
Hospital stays	Hospital stays in the year preceding the date of the interview: 1 for yes, 0 for no
Risk attitude
Risk	Risk level rated on an 11-point scale, grouped into five categories: 1 for risk-averse, 2 moderately risk-averse, 3 risk-neutral, 4 moderately risk-seeking, 5 risk-seeking
Personality traits
	Measures how a person responds to “I see myself as someone who”:
Openness	is original, comes up with new idea; values artistic, aesthetic experiences; has an active imagination
Conscientiousness	does a thorough job; tends to be lazy; does thing efficiently
Extraversion	is talkative; is outgoing, sociable; is reserved
Agreeableness	is sometimes rude to others; has a forgiving nature; is considerate and kind to almost everyone
Neuroticism	worries a lot; gets nervous easily; remains calm in tense situations

Source: Swiss Household Panel (SHP); for further information about the data, see (17).