We analyze the demand for medical care and precautionary saving in a framework with uncertainty surrounding the incidence of illness and the effectiveness of medical treatments and a representation of preferences that disentangles ordinal preferences, risk preferences, and intertemporal...

In this paper we introduce a tractable social welfare function that is rich enough to disentangle preferences towards risk in health outcomes from preferences towards health inequalities across individuals. Given this preference specification we evaluate how uncertainty over the severity of...