The concept of prudence is nowadays almost as well accepted as that of risk aversion. We show that the concept of temperance deserves a similar status since it rests on the same basic ideas as the other two ones. The analysis also specifies the link which exists in the expected utility model...

The formal definition of the term « prudence » in economics is due to Kimball [1990]. Since then the notion of prudence is linked to the choice of a level of precautionary saving while risk aversion remains perceived as a preference towards a risky situation. In this paper ?' after a survey of...

In this paper we examine how diagnostic tests affect the demands both for prevention and for treatments. While diagnostic tests and primary prevention are clearly substitutes, the link between diagnostic tests and the demand for treatment is ambiguous. Classification JEL : D81

Prevention is an important topics both in economics and in public health. However the definitions used in each of these two fields do not coincide. In this paper, by using an intertemporal approach of prevention we show that the two approaches can be reconcilied.Classification JEL : D1 ; D8 ; I10.

Usually medical decisions (diagnosis, treatment, prevention etc.) are analyzed under the assumption that the probabilities of various health states or the outcomes from different medical decisions are unique and perfectly known. Preferences are then represented by the expected utility model. In...