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Mortality Contingent Claims, Health Care, and Social Insurance


Tomas Philipson


University of Chicago; National Bureau of Economic Research (NBER)

Gary S. Becker


University of Chicago - Department of Economics; University of Chicago - Booth School of Business

September 1996

NBER Working Paper No. w5760

Abstract:     
This paper analyzes the savings and health care impacts of mortality contingent claims, defined here as income measures, such as annuities and life-insurance, under which earned income is contingent on the length of one's life. The postwar increase in mandatory annuity and life-insurance programs, as well as the rapid increase in life-expectancy, motivates a better understanding of the effects that mortality contingent claims have on resources devoted to life-extension. We analyze the incentives that such claims imply for life-extension when resources may affect mortality endogenously and argue that these incentives dramatically alter the standard conclusions obtained when mortality is treated exogenously.

Number of Pages in PDF File: 29

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Date posted: January 14, 1997  

Suggested Citation

Philipson, Tomas and Becker, Gary S., Mortality Contingent Claims, Health Care, and Social Insurance (September 1996). NBER Working Paper No. w5760. Available at SSRN: http://ssrn.com/abstract=4554

Contact Information

Tomas J. Philipson (Contact Author)
University of Chicago ( email )
Graduate School of Business
1101 East 58th Street
Chicago, 60637
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Gary S. Becker
University of Chicago - Department of Economics ( email )
1126 East 59th Street
Chicago, IL 60637
United States
University of Chicago - Booth School of Business
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
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