Arbeitspapier
A Theory of Health Investment under Competing Mortality Risks
In this paper we present a theory of health investment when there are multiple causes of death. Since there are several risks competing for one's life, the health investments in avoiding different causes of death are not independent in general. We analyze the optimal investment rules and the comparative statics. In particular, we search for the conditions that make such health investments normal goods, non-Giffen goods, gross complements to one another, and have a positive risk aversion effect. If the proposed conditions fail, then some health investments may become net substitutes, or even gross substitutes to one another.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 669
- Classification
-
Wirtschaft
- Subject
-
competing risks
complementarity
quantity and quality of life
and dominant diagonal matrix
- Event
-
Geistige Schöpfung
- (who)
-
Chang, Fwu-Ranq
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2002
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Chang, Fwu-Ranq
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2002
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