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The study of optimal long-term care (LTC) social insurance is generally carried out under the utilitarian social criterion, which penalizes individuals who have a lower capacity to convert resources into well-being, such as dependent elderly individuals or prematurely dead individuals. This...
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-dependent mortality risk. This is because while a more progressive benefit-earnings rule provides increased insurance for households with … relatively unfavorable earnings histories, and therefore lower savings and survivorship, their relatively high mortality risk … nearly identical optimal benefit-earnings rules both with and without differential mortality. …
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