NDLI: Saving and perceived health risks

Content Provider	Springer Nature Link
Author	Macé, Serge
Copyright Year	2012
Abstract	When utility is health state dependent, saving decisions depend on how perceived future health will affect the marginal utility of consumption. In consequence, people’s failure to anticipate hedonic adaptation to adverse health changes leads them to save more if consumption and health are Edgeworth complements, but to save less if they are Edgeworth substitutes. When we add a zero-mean risk on future health, a new effect occurs. Since underestimating hedonic adaptation to health change also increases the individual’s sensitivity to health risk, cross-prudence, which corresponds to the willingness to accumulate wealth in the face of future health risks may, depending on the case in question, amplify but also limit the change in savings. These effects add another source of variability among observed saving behaviors. They also singularly complicate the estimation of the health state dependence of the utility function.
Starting Page	37
Ending Page	52
Page Count	16
File Format	PDF
ISSN	15695239
Journal	Review of Economics of the Household
Volume Number	13
Issue Number	1
e-ISSN	15737152
Language	English
Publisher	Springer US
Publisher Date	2012-09-28
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Saving Health risks Health state dependence Hedonic adaptation Cross-prudence Microeconomics Labor Economics Population Economics Social Sciences
Content Type	Text
Resource Type	Article
Subject	Social Sciences Economics and Econometrics

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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