Abstract:
:Tradeoffs between health and wealth are among the most important decisions individuals make, and are central to social and economic policy. Yet, only a few studies have investigated the utility of health and wealth empirically. This paper investigates this utility function both theoretically and empirically. We conduct detailed personal interviews with 180 cancer patients, and also obtain questionnaires from 132 diabetes patients. We find strong support for the utility function U(h, w)=h·log(w), where h denotes health and w denotes wealth.
journal_name
J Health Econjournal_title
Journal of health economicsauthors
Levy M,Nir ARdoi
10.1016/j.jhealeco.2012.02.003subject
Has Abstractpub_date
2012-03-01 00:00:00pages
379-92issue
2eissn
0167-6296issn
1879-1646pii
S0167-6296(12)00010-0journal_volume
31pub_type
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