Erasmus School of Health Policy & Management, Erasmus University, P.O. Box 1738, 3000 DR Rotterdam, the Netherlands.
CREM, Université de Rennes 1, Rennes, France.
J Health Econ. 2019 Mar;64:15-24. doi: 10.1016/j.jhealeco.2018.12.004. Epub 2018 Dec 27.
We investigate univariate and multivariate risk preferences for health (longevity) and wealth. We measure attitudes toward correlation and attitudes toward higher order dependence structures such as cross-prudence and cross-temperance, making use of the risk apportionment technique proposed by Eeckhoudt et al. (2007). For multivariate gains, we find correlation aversion and cross-prudence in longevity and wealth. For losses, we observe correlation seeking and cross-imprudence. We do not find clear evidence for cross-temperance. Our results indicate that longevity and wealth are considered to be substitutes for gains, but not for losses. Second, univariate (higher order) risk preferences are comparable for longevity and wealth, although somewhat closer to linearity for wealth. Third, we find evidence that attitudes toward dependence structures in the health domain are sign-dependent.
我们研究了健康（长寿）和财富的单变量和多变量风险偏好。我们使用 Eeckhoudt 等人（2007）提出的风险分配技术来衡量对相关性的态度和对更高阶依存结构的态度，如交叉谨慎和交叉节制。对于多元收益，我们在长寿和财富中发现了相关性厌恶和交叉谨慎。对于损失，我们观察到相关性寻求和交叉不慎。我们没有发现明显的交叉节制证据。我们的结果表明，长寿和财富被认为是收益的替代品，但不是损失的替代品。其次，单变量（高阶）风险偏好对于长寿和财富是可比的，尽管对于财富更接近线性。第三，我们发现证据表明，健康领域对依存结构的态度是与符号相关的。
