Health and ( other ) asset holdings ∗

  title={Health and ( other ) asset holdings ∗},
  author={Julien Hugonnier and Florian Pelgrin and Pascal St-Amour},
Despite clear evidence of correlations between financial and medical statuses and decisions, most models treat financial and health-related choices separately. This paper bridges this gap by proposing a tractable dynamic framework for the joint determination of optimal consumption, portfolio holdings, health investment and health insurance. We solve for the optimal rules in closed form and capitalize on this tractability to gain a better understanding of the conditions under which separation… CONTINUE READING

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