独生子女的商业保险购买决策--基于中国家庭追踪调查(CFPS)数据的证据

THE DECISION OF ONE-CHILD'S HOUSEHOLD COMMERCIAL INSURANCECONSUMPTION--Evidence from the China Family Panel Studies

独生子女政策无疑是过去三十余年间对中国家庭以及人口结构影响最为深远的政策之一,独生子女的“独”这一特性可能通过多种渠道影响家庭的商业保险购买决策。本文基于中国家庭追踪调查(CFPS)数据发现相比于非独生子女,独生子女家庭购买商业保险的概率反而更低。为了解释这一结果,本文从金融知识、风险态度、社会互动和信任度四个渠道分别进行考察。其中,前两个因素主要与保险能分散风险这一功能属性相关,而后两个因素则体现出保险因信息不对称而与生俱来的信用属性。结果显示,给定其经济水平,独生子女更少购买家庭商业保险的原因,并非是他们在金融知识和风险态度上与非独生子女存在明显差异,而是由于他们在社会互动和信任度方面明显弱于非独生子女,正是这种“社会性”的缺乏导致独生子女更少购买家庭商业保险。

The one-child(OC)policy is undoubtedly one of the most far-reaching policies that has sig-nificantly impacted Chinese families and population structure in the past thirty years.The unique“one-child”property of these individuals may influence families'decisions regarding commercial insurance pur-chases through various channels.Based on data from the China Family Panel Studies(CFPS),this paper shows that OCs are less likely to purchase family insurance compared to non-OCs.To explain it,this pa-per delves into four primary channels:financial knowledge,risk attitude,social interaction,and trust.The first two channels are closely related to the concept of risk diversification,while the latter two are connected to the inherent trust property of insurance due to information asymmetry.However,the re-search finds no significant differences between OC and non-OC individuals concerning financial knowledge and risk attitude,even when considering their economic status.Instead,the actual reasons are that OCs have fewer social interactions and lower degrees of trust than non-OCs.Both aspects suggest that OCs are less socially active than non-OCs.