| dc.description.abstract | The purpose of this study is to use the personal health care expenditure to estimate the value of life saving and to explore the relationship between the value of life saving and age. We use the Survey of Family Income and Expenditure from 1976 to 2006 to obtain the personal characteristics and family medical expenditure, and use the Taiwan Complete Life Table from the Ministry of the Interior announced to obtain the average nation life expectancy and the average nation mortality rate. We analyze the effects of the main factors witch impact the personal health-related expenditure. And we predict the per-medical spending by age, and use the corresponding mortality rates to compute the value of life saving.
Our theoretical model of this study is adapted from Hall and Jones (2007). Instead of using the aggregate data, we use the individual data to compute the personal value of life saving at each age. Because of that most people have low medical expenditure, we use both OLS and Quantile regression to analyze the different effects of factors under different quantile of medical expenditure.
The results shows that personal health care expenditure will increase with education, income, and mortality rate, and will decrease with life expectancy, civil service worker, and high-risk workers. In this study, the value of life-saving of a 25-29 year-old single male in 1991 is about 130 million NT dollars, and a 25-29 year-old husband is about 64 million. The value of life-saving of a 20-24 year-old single male in 2006 is about 550 million NT dollars, and a 25-29 year-old husband is about 300 million. In general, the value of life-saving will decrease with age.
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