Behavioral Economics and Bioethics by Li Way Lee

Author:Li Way Lee
Language: eng
Format: epub, pdf
Publisher: Springer International Publishing, Cham

Case 2

Suppose that the Public Health Agency finds a drug that totally eradicates Parkinson’s and Alzheimer’s, thereby increasing Senor’s life expectancy by 10 years. (The drug does not do anything for Junior.) Again, this drug will affect the Social Security program, by triggering a renegotiation of the division of the $2 million total income between Junior and Senior. I have found that, under the new terms, Junior will keep $1.45 million, transferring the remaining $0.55 million to Senior. That is, Junior will have annual income of $24,167 and Senior will have $18,333 a year. These are less than the $25,000 annual income before the program. Given the income-health nexus, these represent declines in health. Note that Senior loses a lot more than Junior, creating disparity in income as well as health.

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