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| タイトル: | Risk and Uncertainty in Health Investment |
| 著者: | Asano, Takao Shibata, Akihisa |
| キーワード: | Health Investment Risk Uncertainty |
| 発行日: | Mar-2010 |
| 出版者: | Institute of Economic Research, Kyoto University |
| 誌名: | KIER Discussion Paper |
| 巻: | 696 |
| 抄録: | Extending the Grossman [12] model of health capital into a stochastic one, we analyze how the presence of Knightian uncertainty about the efficacy of health care affects the optimal health investment behavior of individuals. Using Gilboa and Schmeidler's [11] model of maxmin expected utility (MMEU) with multiple priors, we show that an agent retains the initial level of health capital if the price of health care lies within a certain range. We also show that the no-investment range expands as the degree of Knightian uncertainty rises. |
| URI: | http://hdl.handle.net/2433/129604 |
| 関連リンク: | http://ideas.repec.org/p/kyo/wpaper/696.html |
| 出現コレクション: | KIER Discussion Paper (英文版) |
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