Determinants of Household Demand for Insurance: The Case of Korea
This article analyses the effect of household characteristics on the demand for insurance using consumer survey data in Korea. Using Tobit analysis, we have found that the self-employed have a stronger demand for insurance than salaried workers, and that residents of small cities and rural areas purchase more protection-type insurance than metropolitan residents. Demand for insurance can differ depending on employment type and residential area, which has not been examined in previous studies. We have also found that there is a curvilinear relationship between age and demand for insurance. Results suggest that households with different demographic characteristics choose different risk-reducing instruments.
Volume (Year): 35 (2010)
Issue (Month): S1 (December)
|Contact details of provider:|| Web page: http://www.palgrave-journals.com/ |
|Order Information:|| Postal: Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK|
Web: http://www.palgrave-journals.com/pal/subscribe/index.html Email:
When requesting a correction, please mention this item's handle: RePEc:pal:gpprii:v:35:y:2010:i:1s:p:s82-s91. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Daniel Foley)
If references are entirely missing, you can add them using this form.