Market insurance and weight
3. Market insurance and weight
By introducing market insurance in state preference model of a lifetime endowment economy, we show how the market insurance influences spending on self-protection h and self-insurance 2 2 2 2 2 , , , , C E F F W L H . Agents pay I as an insurance premium in the first period to get benefit of B in the second period if get sick. Consequently, the expected lifetime utility function 10 is maximized subject to the resource constraint 11 and the fair insurance market 12. 2 2 2 2 2 1 1 1 2 1 2 2 2 2 2 1 2 , , , , , , , , , , , , 1 1 H L H L H L p h U W F F E C U W F F E C W F F E C p h v U v B 10 I h C C E E F F F F W W L H L H 2 1 2 1 2 1 2 1 2 1 11 B h p I 1 12 Substituting B into the expected utility function and solving the necessary first order condition for interior solution with respect to I h C C E E F F F F W W L L H H , , , , , , , , , , , 2 1 2 1 2 1 2 1 2 1 , respectively, which yield the optimal levels of weight, both types of good, exercise, other consumption good, and spending on health development. 2 1 W I h U p h p h MU MU 13 2 2 1 H H I h F F U p h p h MU W MU 14 2 2 1 L L I h F F U p h p h MU W MU 15 2 2 1 E I E h U p h p h MU W MU 16 2 1 C I h U p h p h MU MU 17 Equations 13, 14, 15, 16, and 17 show that the marginal utilities of spending on health investment, h MU , are always larger than the marginal utility of insurance premium, I MU . In particular, the equations 14, 15, and 16 state that the marginal utility of spending on health development depends also on the sign of the marginal effect of high-calorie good, low-calorie good ,and exercise on weight 2 2 2 , , E F F W W W L H , so it is likely to be a positive or negative effect of the marginal utility of insurance premium due to 2 E W . More importantly, agents will prefer to spend on health investment over purchase of the market insurance, or agents are willing to prevent the probability of getting obesity rather than reduce the size of utility loss by purchasing the market insurance because spending on health development provides a higher marginal utility than buying market insurance. Similarly, agents will prefer self-insurance to market insurance because the marginal utility of the three types of goods; high-calorie good, low-calorie good and other consumption good, are larger than the marginal utility of spending on market insurance, except that the marginal utility of weight is above the ideal weight level, W I , and the marginal utility of exercise is negative resulting from the marginal effect of exercise on weight which is always negative. Hence, in case of perfect capital market, self- protection and self-insurance are more beneficial than market insurance, but agents can buy market insurance to share the future risk, except with exercise.4. Public policy with weight
Parts
» international conference elgic 2014
» Introduction international conference elgic 2014
» Structure and process of the KMUTT-WIL model for undergraduates
» Student evaluation Data analysis and discussion Conclusion
» Research Objective Methodologies international conference elgic 2014
» Research Instruments international conference elgic 2014
» Suggestions for future research
» Literature Review international conference elgic 2014
» 1.13 -0.95 0.14 0.18 Estimated result from logit regression and marginal effects.
» Conclusion international conference elgic 2014
» Objective Results international conference elgic 2014
» Discussion Conclusion international conference elgic 2014
» Research Methodology Research Results
» Introduction knowledge and strategy. Boston: Butterworth-
» Introduction Purposes of the research
» Phase 1: Documentary Study Phase 2: Field Study
» Findings Reviewing the Sources: The Finding out Knowledge: The
» Making a Difference: They Planning a Procedure: A Respond to Development: The
» Set up the Balance: The local Support Sufficiently: Local Apply for Living: Living within
» Share and Extend Results: Check out and Screen: The
» Close to Sources of Knowledge and Wisdom: The pursuit of self-learning, Both Academic and Wisdom:
» Discussion of findings international conference elgic 2014
» Summary of the findings References Vicharn Phanit. 2006. Knowledge
» Reform: by canceling the previous system
» Implementation Smart student: providing 30 students studies in
» The objectives of this study Conclusion
» Validity and Reliability Tests Skweness Analysis
» Facility of Training Skweness Analysis
» Discussion Research Finding 1. Statistical description of respondent
» Preparation 1 The study was carried out through a review of Data Analysis
» Demographic data international conference elgic 2014
» The method Actor-Network Theory
» Searching for the topic Makin
» The Media-making network international conference elgic 2014
» Research Objective Methodologies Data Analysis 1.
» Problem statement Research Objective
» Traditional Classroom Literature Review
» Methodology international conference elgic 2014
» Results international conference elgic 2014
» Objective Methodology Results international conference elgic 2014
» Delivering of WiL concept and workplace literacy
» Introduction Evalua international conference elgic 2014
» Conclu international conference elgic 2014
» Cognitive Engagement Literature Review and Action Research Hypothesis
» Experiential Learning Literature Review and Action Research Hypothesis
» Research Method international conference elgic 2014
» Discussions Research Results and Discussions 1 The First Cycle of Action Research
» Conclusions international conference elgic 2014
» Goal-oriented, multi-stepped approach to reading
» Introduction Assessment for Learning
» Community development: theory, practice, and
» Baan Sai-mor, Bangkhao Distrct
» Introduction Research Methodology international conference elgic 2014
» Result and Discussion international conference elgic 2014
» A model of behavior including weight
» Empirical Result international conference elgic 2014
» Issues of Teacher Training for Media Information
» Interviews Disparity of Training
» Differences between School Teachers and Leaders To Promote MIL
» Advantages of pair programming
» Discussion international conference elgic 2014
» Summary international conference elgic 2014
» Participants and procedure Instrument
» Result international conference elgic 2014
» Work experiences School sizes
» Learning Processes Reform Teachers in Southern Thailand totally agreed that
» The purpose of the study Scope of the study
» Research Methodology Results and Discussion
» Conclusion Suggestions international conference elgic 2014
» Out-of-class English Language Learning Activities OCELLAs
» Language learning strategies. The results showed that the participants reported 0.55 Moderate
» 1 Depromotion of Equity and Pluralism
» Perspective on Social Justice
» Background of communities and museum
» Research Objective Scope of research The research results
» Suggestion international conference elgic 2014
» Research findings international conference elgic 2014
» Suggestion to use the result of research Suggestion to do the research
» Objectives Research Methodology international conference elgic 2014
» Research Instruments Data collection
» Data Analysis Results international conference elgic 2014
» Analysis international conference elgic 2014
» Suggestions international conference elgic 2014
» Case Study Best Practices TQA winner 2002
» Educational Quality Development of Princess Chulabhorn’s College, Trang: According
» In Songkhla, education management first model early childhood centers have presented
» Objectives Methods Results international conference elgic 2014
» According to the research, it found that special
» Abstract Background international conference elgic 2014
» Framework Methodology international conference elgic 2014
» The problems outside the schools: For the
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