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. Author manuscript; available in PMC: 2016 May 11.
Published in final edited form as: J Health Econ. 2012 Dec 17;32(6):1313–1324. doi: 10.1016/j.jhealeco.2012.11.006

Table 9.

Extended specification testing for adverse selection

Explanatory variables (6) (7) (8)
Premium −0.0550***
(0.00434)		 −0.0643***
(0.00583)		 −0.0763***
(0.00603)
Insurance 1.208***
(0.204)		 1.052***
(0.260)		 0.590**
(0.259)
Insurance * Highcost 0.930***
(0.294)		 1.516***
(0.418)		 1.444***
(0.346)
No deductible 0.934***
(0.131)		 1.432***
(0.230)		 1.163***
(0.212)
No deductible * Highcost 0.220
(0.198)		 0.166
(0.242)		 −0.0997
(0.238)
Gap coverage (generics) 0.139
(0.190)		 0.0601
(0.202)		 0.184
(0.262)
Gap coverage (brand-name drugs) 0.492***
(0.131)		 0.541**
(0.234)		 0.972*
(0.559)
Gap coverage (brand-name) * Highcost 0.623***
(0.200)		 1.271***
(0.416)		 1.120*
(0.634)
Drug tiers −1.390***
(0.124)		 −1.629***
(0.174)		 −0.926***
(0.217)
Top 100 drugs uncovered −0.136***
(0.0178)		 −0.120***
(0.0178)		 −0.109***
(0.0165)
Top 100 with authorization −0.105***
(0.0140)		 −0.0994***
(0.0153)		 −0.0790***
(0.0147)
Insurance * Hypothetical 1.341***
(0.371)
Insurance * Highcost * Hypothetical 0.137
(0.797)
No deductible * Hypothetical 0.221
(0.444)
No deductible * Highcost * Hypothetical 0.956
(0.645)
Gap coverage (brand-name) * Hypothetical −0.399
(0.607)
Gap coverage (brand-name) * Hypothetical * Highcost 0.212
(0.777)
Heteroskedasticity parameter −0.653***
(0.174)		 −0.825***
(0.254)
Observations 22,997 ,997 22,997
log likelihood −2728 −2718 −2701
Number of groups 1,613 1,613 1,613

Robust standard errors in parentheses, standard errors clustered by respondent

***

p<0.01,

**

p<0.05,

*

p<0.1