Healthcare expenditure (HCE) spent during an individual’s last year of life accounts for a high share of lifetime HCE. This finding is puzzling because an investment in health is unlikely to have a sufficiently long payback period. However, Becker et al. (2007) and Philipson et al. (2010) have advanced a theory designed to explain high willingness to pay (WTP) for an extension of life close to its end.
Vortragender: Professor em. Dr. Peter Zweifel, Universität Zürich
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