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Title:Approaches to estimating the health state dependence of the utility function PDF Logo
Authors:Finkelstein, Amy
Luttmer, Erzo F.P.
Notowidigdo, Matthew J.
Issue Date:2009
Series/Report no.:IZA discussion papers 3925
Abstract:If the marginal utility of consumption depends on health status, this will affect the economic analysis of a number of central problems in public finance, including the optimal structure of health insurance and optimal life cycle savings. In this paper, we describe the promises and challenges of various approaches to estimating the effect of health on the marginal utility of consumption. Our basic conclusion is that while none of these approaches is a panacea, many offer the potential to shed important insights on the nature of health state dependence.
Subjects:State dependence
health
insurance
marginal utility
JEL:D12
I1
Persistent Identifier of the first edition:urn:nbn:de:101:1-20090119213
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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