Economic Analysis of Risk and Uncertainty Induced by Health Shocks: A Review and Extension
487
There are several avenues of future research raised by considering the role of
medical innovation in insuring health. One is in assessing the relative value of public
subsidies for medical innovation versus health insurance reforms. Much of the debate
and legislation concerning health reforms has been under the rationale of reducing
market inefficiencies in shocks to consumption induced by health shocks. Our analysis
may suggest that, given the potentially large value of smoothing health itself rather
than consumption, more explicit analysis is needed ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month, and much more.