Uncertainty and investment in health

Article Abstract:

The factor of uncertainty in the concept of health capital was studied as a two-period, pure investment model. Dardoni and Wagstaff have theorized that the inclusion of uncertainty would integrate the investment decision and the consumption decision and that health investments would be considered a normal good when the utility function indicates declining risk aversion. It was suggested that uncertainty could affect the rate of return and consequently, on the income effect of health investment.

Economic aspects, Investments

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The time trade-off: a note on the effect of lifetime reallocation of consumption and discounting

Article Abstract:

Reallocation of lifetime consumption and discounting of future utilities affects the accuracy of estimates related to ratios of individual marginal rates of substitution (MRS). Overestimation of ratios of individual MRS occur whenever responses to time trade-off (TTO) questions are not modified with the effects resulting from lifetime reallocation of consumption and discounting. The degree of overestimation relies partly to the severity of impairment on health status.

Analysis, Health status indicators

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Understanding DALYs

Article Abstract:

The disability-adjusted life years (DALYs) is an economic- and ethical-based approach used in measuring the burden of diseases, injuries and risk factors facing humanity. It is also used in governing regulations regarding the delivery of fair and cost-effective health care. It addresses the problem of inequality in health care delivery by utilizing a fairness policy that treats individuals with varying health conditions alike.

Models, Disability evaluation

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