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1. Consider the following 4 examples of health stock over the life cycle. a) From birth on, pairwise compare the lives by who gets greater utility from health (hint: use health (H) instead of age). Or, suppose that utility only depends on health, Fill in your answer in the 1" column of the table by indicating who gets greater utility. If utility is equal, mark an "" sign; if it's ambiguous, write "?" b) From age T on, pairwise compare the lives by who gets greater utility from health (hint: use health (H) instead of age). Or, suppose that utility only depends on health. Fill in your answer in the 2nd column. c) Repeat the exercise in part a) (from birth on) if the utility function only depends on remaining years of life (hint: use age instead of health (H). Use the 3d column. d) Repeat the exercise in part c) (from age = T) if the utility function only depends on remaining years of life (hint: use age instead of health (H)). Use the 4h column

1. Consider the following 4 examples of health stock over the life cycle. a) From birth on, pairwise compare the lives by who gets greater utility from health (hint: use health (H) instead of age). Or, suppose that utility only depends on health, Fill in your answer in the 1" column of the table by indicating who gets greater utility. If utility is equal, mark an "" sign; if it's ambiguous, write "?" b) From age T on, pairwise compare the lives by who gets greater utility from health (hint: use health (H) instead of age). Or, suppose that utility only depends on health. Fill in your answer in the 2nd column. c) Repeat the exercise in part a) (from birth on) if the utility function only depends on remaining years of life (hint: use age instead of health (H). Use the 3d column. d) Repeat the exercise in part c) (from age = T) if the utility function only depends on remaining years of life (hint: use age instead of health (H)). Use the 4h column

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1. Consider the following 4 examples of health stock over the life cycle. a) From birth on, pairwise compare the lives by who gets greater utility from health (hint: use health (H) instead of age). Or, suppose that utility only depends on health. Fill in your answer in the 1" column of the table by indicating who gets greater utility. If utility is equal, mark an "" sign; if it's ambiguous, write "?" b) From age - T on, pairwise compare the lives by who gets greater utility from health (hint: use health (H) instead of age). Or, suppose that utility only depends on health. Fill in your answer in the 2nd column. c) Repeat the exercise in part a) (from birth on) if the utility function only depends on remaining years of life (hint: use age instead of health (H)). Use the 3rd column. d) Repcat the exercise in part c) (from age = T) if the utility function only depends on remaining years of life (hint: use age instead of health (H)). Use the 4th column From birth (care about remaining years remaining years only) From age T From age T (care about From birth only) A vs. B B A vs. C C A vs. D B vs. C B B vs. D B. C vs. D Health Stock over Lifecycle heing Birth from brth T. Age Car about
Transcribed Image Text:1. Consider the following 4 examples of health stock over the life cycle. a) From birth on, pairwise compare the lives by who gets greater utility from health (hint: use health (H) instead of age). Or, suppose that utility only depends on health. Fill in your answer in the 1" column of the table by indicating who gets greater utility. If utility is equal, mark an "" sign; if it's ambiguous, write "?" b) From age - T on, pairwise compare the lives by who gets greater utility from health (hint: use health (H) instead of age). Or, suppose that utility only depends on health. Fill in your answer in the 2nd column. c) Repeat the exercise in part a) (from birth on) if the utility function only depends on remaining years of life (hint: use age instead of health (H)). Use the 3rd column. d) Repcat the exercise in part c) (from age = T) if the utility function only depends on remaining years of life (hint: use age instead of health (H)). Use the 4th column From birth (care about remaining years remaining years only) From age T From age T (care about From birth only) A vs. B B A vs. C C A vs. D B vs. C B B vs. D B. C vs. D Health Stock over Lifecycle heing Birth from brth T. Age Car about
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