Income Effects and the Value of Health
利用消费者对产品安全评价的调查数据，分析收入如何影响健康价值的评估，发现健康是正常商品，收入弹性在0.17到0.39之间。
Although valuations of risk should increase with income, hedonic wage studies have not been well suited to assessing this relationship. Using survey data on consumer valuations of product safety, this paper analyzes the role of income effects for several utility functions. The methodology developed in this paper assesses the effect of income on the certainty equivalent value of the health effect (income elasticities range from 0.18 to 0.39) and on the risk-money tradeoff for small changes in risk (income elasticities range from 0.17 to 0.38). Health status is a normal economic good.