Health Care Investment: The Case of Multiple Sources of Risk

Jokung, O. and Mitra, S. 2020. Health Care Investment: The Case of Multiple Sources of Risk. Asia-Pacific Financial Markets. 27, pp. 231-255. https://doi.org/10.1007/s10690-019-09291-3

TitleHealth Care Investment: The Case of Multiple Sources of Risk
TypeJournal article
AuthorsJokung, O. and Mitra, S.
Abstract

This paper analyses the effect of a bivariate risk on the optimal expenses in health care and gives conditions under which any change in the bivariate risk with respect to the (s1,s2)−increasing concave order decreases the expenses in health care. Increasing risk increases the demand for health care for risk-averse and prudent individuals in the multivariate sense. Positive (negative) dependence increases (decreases) expenses in health care. Increasing the correlation produces the same results. Furthermore, the uncertainty surrounding the effectiveness of medical treatments amplifies the effect of any change in wealth and health risks. We also present some policy implications.

JournalAsia-Pacific Financial Markets
Journal citation27, pp. 231-255
ISSN1387-2834
Year2020
PublisherSpringer
Publisher's version
License
CC BY 4.0
File Access Level
Open (open metadata and files)
Digital Object Identifier (DOI)https://doi.org/10.1007/s10690-019-09291-3
Publication dates
Published in printJun 2020
Published online08 Nov 2019

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