長壽風險下健康支出對家計單位投資決策之影響

The investigation on how the health expenditure affect investment decisions of households under longevity risk

陳婉婷(Wan-Ting Chen)

指導教授 ： 田峻吉

淡江大學/商學院/保險學系保險經營碩士班/碩士(2012年)

https://doi.org/10.6846/TKU.2012.01059

摘要

隨著經濟成長、醫療技術提升，國人平均餘命有逐年上升之趨勢，家計單位在面臨長壽風險所可能帶來的影響下，將調整其投資決策以妥善分配有限之財富，因此，本研究透過實驗經濟學之方法，以探討在長壽風險下，健康支出、風險態度對於家計單位投資決策之影響。
　　本研究透過問卷獲取受試者資訊，並藉由實驗系統模擬家計單位在長壽風險影響下，於退休前、退休後及全部期間（含退休前與退休後）之投資決策變化。並探討在長壽風險之影響下，家計單位之背景變數、風險態度及健康保健支出與其投資決策變化間之關係。
本研究之實證結果顯示：
(1)風險態度與家計單位之特性及其健康保健支出間的相關性：
所受之教育程度越高及對於健康越重視之家計單位的風險承受度較高。
(2)長壽風險下，家計單位之特性與其投資決策變化間之關係：
子女人數較多之家計單位，傾向增加其於無風險性資產之投資比例以因應長壽風險可能帶來之影響。
(3)長壽風險下，家計單位之風險態度與投資決策變化間之關係：
家計單位之風險趨避程度越高，傾向改變其於無風險性資產之投資比例以因應長壽風險可能帶來之影響。
(4)長壽風險下，家計單位之健康保健支出及投資決策變化間之關係：
對於健康越重視之家計單位，傾向提高其於無風險性資產之投資比例以因應長壽風險可能帶來之影響。

關鍵字

健康經濟學 ； 長壽風險 ； 風險態度 ； 健康支出 ； 實驗經濟學

並列摘要

With economic growth and medical technology improved, the average life expectancy has increased in recent years. Households could change their investment decisions in response to longevity risk. The purpose of this essay is to investigate the relationship among health expenditure, risk attitudes and investment decisions under longevity risk.
This study uses the experimental economics to examine the effects of health expenditure on investment decisions of households under longevity risk. First, this study uses the questionnaire to receive households’ demographic information. Then, this study utilizes the experimental methodology to investigate how households’ investment decisions are influenced by health expenditures and risk attitudes under the longevity risk.
The empirical results show as the follow:
(1) The correlation between risk attitude and households’ characteristics and health care expenditures:
Households with highly education level and highly health expenditure, their risk tolerance is more higher. Our empirical result indicates that households with high education level and health expenditure have less risk aversions than households with low education level and health expenditure.
(2) households with more children intend to increase the percentages of risk-free asset in response to longevity risk. The variable, gender, also play an important role on investment decisions under longevity risk.
(3) Households with high risk aversion intend to change their proportion of risk-free assets in order to deal with longevity risk.
(4) Households with high health expenditure intend to increase their proportion of risk-free assets in order to deal with longevity risk.

並列關鍵字

health economics ； longevity risk ； risk attitude ； health expenditure ； experimental economics

參考文獻

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