Health, wealth, and Fairness

Research output: Contribution to journalArticle

42 Scopus citations

Abstract

How much health should we have and how should it be distributed? This paper studies how to define social objectives for the allocation of health and income in a setting where individuals may differ in their preferences about health and consumption, earning ability, and health disposition. It is shown, on the basis of three simple ethical principles, that a reasonable social objective is to apply the maximin criterion to "full-health equivalent" incomes. An application to the choice of the optimal health policy illustrates how this social objective may be used.

Original languageEnglish (US)
Pages (from-to)253-284
Number of pages32
JournalJournal of Public Economic Theory
Volume7
Issue number2
DOIs
StatePublished - Dec 1 2005
Externally publishedYes

All Science Journal Classification (ASJC) codes

  • Finance
  • Sociology and Political Science
  • Economics and Econometrics

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