The section "Proposition 3" and "Corollary 2" should be listed as follows:Proposition 3 (The two-period model with saving) Suppose that u CA < 0.(1) If ( 17) holds, then we have the following results.(i) Higher present income leads to higher self-protection and higher saving.(ii) Higher future income leads to higher self-protection and lower saving.(iii) Higher present health leads to higher self-protection and higher saving.(2) If ( 17) and ( 18) hold simultaneously, then higher future health leads to lower self-protection and higher saving.Corollary 2 (The two-period model with saving]) Suppose that u CA < 0 and that the utility exhibits cross-risk vulnerability toward unfair health risk and D A ACA A (or C A ACA A ).
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Hong et al. (2024) studied this question.
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