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- CBA (1)
- CEA (1)
- Cognitive bias (1)
- Cost-benefit analysis (1)
- Cost-effectiveness analysis (1)
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- Extrawelfarism (1)
- Health coverage (1)
- Health policy choice (1)
- Insuring healthy young adults (1)
- Irrational insurance behavior (1)
- Kaldor-Hicks principle (1)
- Law and economics (1)
- Risk (1)
- Social welfare functions (1)
- Tontine (1)
- Welfare theory (1)
- Welfarism (1)
- Willingness to accept (1)
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Articles 1 - 2 of 2
Full-Text Articles in Medicine and Health Sciences
Tontines For The Invincibles: Enticing Low Risks Into The Health-Insurance Pool With An Idea From Insurance History And Behavioral Economics, Tom Baker, Peter Siegelman
Tontines For The Invincibles: Enticing Low Risks Into The Health-Insurance Pool With An Idea From Insurance History And Behavioral Economics, Tom Baker, Peter Siegelman
All Faculty Scholarship
Over one third of the uninsured adults in the U.S. below retirement age are between 19 and 29 years old. Young adults, especially men, often go without insurance, even when buying it is mandatory and sometimes even when it is a low cost employment benefit. This paper proposes a new form of health insurance targeted at this group—the “Young Invincibles”—those who (wrongly) believe that they don’t need health insurance because they won’t get sick. Our proposal offers a cash bonus to those who turn out to be right in their belief that they did not really need health insurance. The …
Contingent Valuation Studies And Health Policy, Matthew D. Adler
Contingent Valuation Studies And Health Policy, Matthew D. Adler
All Faculty Scholarship
This short comment argues that both cost-benefit analysis (CBA) and cost-effectiveness analysis (CEA) should be seen as imperfect tools for evaluating health policy. This is true, not only for extra-welfarists, but even for welfarists, since both CBA and CEA can deviate from the use of social welfare functions (SWF). A simple model is provided to illustrate the divergence between CBA, CEA, and the SWF approach. With this insight in mind, the comment considers the appropriate role of contingent-valuation studies. For full text, please see: http://www.law.upenn.edu/cf/faculty/madler/workingpapers/578A59B6d01.pdf.