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Assuming individual preferences satisfy the Von Neumann-Morgenstern axioms for expected utility we show how we can measure an individual's expected utility of any state using their willingness to accept a gamble over two reference points. The utility function captures the diminishing marginal...
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Micro-based and macro-based approaches have been used to assess the effects of health on economic growth. Micro …-based approaches aggregate the return on individual health from Mincerian wage regressions to derive the macroeconomic effects of … population health. Macro-based approaches estimate a generalized aggregate production function that decomposes output into its …
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