The high-speed growth of the health care sector has given this sector an increasingly important role in the stock …-variance rule says “NO”. This conjecture is explored by making a comparison of the performance of portfolios with and without health … findings imply that all risk averters prefer to invest in portfolios with both health care and 6-M T-bill, regardless of …

As health care costs continue to rise, medical expenses have become an increasingly important contributor to financial … risk. Economic theory suggests that when background risk rises, individuals will reduce their exposure to other risks. This … paper presents a test of this theory by examining the effect of medical expenditure risk on the willingness of elderly …

As health care costs continue to rise, medical expenses have become an increasingly important contributor to financial … risk. Economic theory suggests that when background risk rises, individuals will reduce their exposure to other risks. This … paper presents a test of this theory by examining the effect of medical expenditure risk on the willingness of elderly …

As health care costs continue to rise, medical expenses have become an increasingly important contributor to financial … risk. Economic theory suggests that when background risk rises, individuals will reduce their exposure to other risks. This … paper presents a test of this theory by examining the effect of medical expenditure risk on the willingness of elderly …

This paper explores how the medical expenditure risk affects the households' portfolio choice across health status … better health status tend to hold more stocks and conditional on being in good health status, households are willing to …