scholarly journals Valuing the impact of Self-rated Health and Social Support on life satisfaction among Hong Kong Chinese population

2021 ◽  
Author(s):  
Chee Hon Chan
Keyword(s):  
Social Support ◽  
Life Satisfaction ◽  
Hong Kong ◽  
Chinese Population ◽  
Cost Benefit ◽  
Marginal Rate ◽  
Self Rated Health ◽  
Marginal Rate Of Substitution ◽  
Compensating Surplus ◽  
Rate Of Substitution

Abstract Background Research has highlighted that satisfaction in health and social support are key areas of life affecting individual’s wellbeing. Many social and public health initiatives use these two intervention mechanisms to improve individual’s wellbeing. For the purpose of cost-benefit assessment, there has been growing interest in expressing these intervention effects in economic terms. However, only a handful of studies have ever estimated these effects in economic terms, and none of which examined in a Chinese context. The aim of this study is to extend this line of valuation work to estimate the implicit willingness-to-pays on the effects of improving individuals’ self-rated health status (SRH) and social support (SS) on their life satisfaction in the Chinese population. Methods Using individual’s life satisfaction data from a two-wave representative panel survey in Hong Kong (n = 1,109), this study first conducted a cross-lagged analysis with structural equation modelling technique to examine the causal effects of SRH and SS on life satisfaction, while simultaneously adjusting their reverse causal influences. The use of this cross-lagged approach was the effort to minimising the endogeneity problem. Then, substituting the respective estimates to the formulae of compensating surplus, the marginal rate of substitution of SRH and SS with respect to individual’s equivalised monthly household were estimated and were then expressed as the willingness-to-pays on the effect of improving individuals’ SRH and SS on their life satisfaction. Results The cross-lagged analysis ascertained the casual effects of SRH (β = 0.078, 95%CI: 0.020, 0.151) and SS on individuals’ satisfaction with life. The sample’s marginal rate of substitution of SRH and SS were found to be 1.28 (95%CI: 0.43, 2.15) and 1.36 (95%CI: 0.23, 2.49) respectively. Translating into the concept of compensating surplus, the implicit monetary values of improving the sample’s SRH from “poor health” to “excellent health” and their SS from “little support” to “a lot of support” are equivalent to an increase in their equivalised monthly household income by HK$56,000 and HK$39,400 respectively. Conclusions This study has implications for the cost-benefit assessment in wellbeing initiatives for the Chinese population.

Correlates of life satisfaction among Southeast Asian foreign domestic workers in Hong Kong: An exploratory study

2018 ◽  
Vol 27 (3) ◽  
pp. 368-377 ◽  
Author(s):  
Daniel Dick Man Leung ◽  
Etonia Ying Tung Tang
Keyword(s):  
Social Support ◽  
Life Satisfaction ◽  
Hong Kong ◽  
Exploratory Study ◽  
Perceived Social Support ◽  
Domestic Workers ◽  
Self Esteem ◽  
Demographic Characteristics ◽  
Special Group ◽  
Foreign Domestic Workers

Live-in foreign domestic workers (FDWs) are a special group in Hong Kong, where they account for approximately 4 percent of Hong Kong’s population. FDWs’ level of life satisfaction (LS) and its correlates have been under-researched thus far. This study examined data from 130 participants and sought to determine the effect of perceived social support, self-esteem and demographic characteristics on LS. The results showed that being married was negatively associated with LS while self-esteem was not a significant factor. The findings suggest the importance of providing support to FDWs to enhance their LS.

scholarly journals A guide to extending and implementing generalized risk-adjusted cost-effectiveness (GRACE)

2021 ◽  
Author(s):  
Darius N. Lakdawalla ◽  
Charles E. Phelps
Keyword(s):  
Cost Effectiveness ◽  
Life Expectancy ◽  
Risk Preferences ◽  
Illness Severity ◽  
Health State ◽  
Marginal Rate ◽  
Permanent Disability ◽  
Adjusted Cost ◽  
Marginal Rate Of Substitution ◽  
Rate Of Substitution

AbstractThe generalized risk-adjusted cost-effectiveness (GRACE) model generalizes conventional cost-effectiveness analysis (CEA) by introducing diminishing returns to Health-Related Quality of Life (QoL). This changes CEA practice in three ways: (1) Willingness to pay (WTP) increases exponentially with untreated illness severity or pre-existing permanent disability, and WTP ends up lower for mild diseases but higher for severe diseases compared with conventional CEA; (2) Average treatment effectiveness should be adjusted for uncertainty in outcomes; and (3) The marginal rate of substitution between life expectancy and QoL varies with health state. Implementing GRACE requires new parameters describing risk preferences over QoL, the marginal rate of substitution between life expectancy (LE) and QoL, and the variance and skewness of treatment outcomes distributions. In this paper, we provide: (1) a generalized WTP threshold incorporating the possibility of permanent disability; (2) a simpler method to estimate the tradeoff rate between QoL and LE, eliminating the need to carry out treatment-by-treatment estimates; (3) a more-general method to adjust WTP for illness severity that permits non-constant relative risk-aversion in QoL; (4) a new approach to estimating risk-preferences over QoL, leveraging established empirical methods from “happiness” economics; and (5) a step-by-step guide for practitioners wishing to implement multi-period GRACE analyses.

scholarly journals Generalized marginal rate of substitution in multiconstraint consumer’s problems and their reciprocal expenditure problems

SERIEs ◽  
2011 ◽  
Vol 2 (3) ◽  
pp. 401-421 ◽  
Author(s):  
Manuel Besada ◽  
Javier García ◽  
Miguel Mirás ◽  
Carmen Vázquez
Keyword(s):  
Marginal Rate ◽  
Marginal Rate Of Substitution ◽  
Rate Of Substitution

THE BECKER–COASE THEOREM RECONSIDERED

2015 ◽  
Vol 81 (2) ◽  
pp. 157-177 ◽  
Author(s):  
Pierre-Andre Chiappori ◽  
Murat Iyigun ◽  
Yoram Weiss
Keyword(s):  
Divorce Rate ◽  
Coase Theorem ◽  
Marginal Rate ◽  
Public And Private ◽  
Private Goods ◽  
Divorce Law ◽  
Marginal Rate Of Substitution ◽  
Divorce Laws ◽  
The Impact ◽  
Rate Of Substitution

Abstract:We reconsider the well-known Becker–Coase (BC) theorem according to which changes in divorce law should not affect divorce rates. We do that in a context of households that consume public goods in addition to private goods. For the Becker–Coase theorem to hold in this setting, utility must be transferable both within marriage and upon divorce, and the marginal rate of substitution between public and private consumption needs to be invariant in marital status. We show that if divorce alters the way some goods are consumed (either because some goods that are public in marriage become private in divorce or because divorce affects either the marginal rate of substitution between public and private goods or even the cardinalization of a spouse’s utility), then the Becker–Coase theorem holds only for very specific preferences. We conclude that, in general, divorce laws will influence the divorce rate, although the impact of a change in divorce laws can go in either direction.

scholarly journals Relevance of Gender and Social Support in Self-Rated Health and Life Satisfaction in Elderly Spanish People

2019 ◽  
Vol 16 (15) ◽  
pp. 2725 ◽  
Author(s):  
M. Pilar Matud ◽  
M. Concepción García ◽  
Demelza Fortes
Keyword(s):  
Social Support ◽  
Life Satisfaction ◽  
Social Determinants Of Health ◽  
Social Determinants ◽  
Age Groups ◽  
Cross Sectional Study ◽  
Determinants Of Health ◽  
High Educational Level ◽  
Cross Sectional ◽  
Self Rated Health

Background: Gender and social support are important social determinants of health, but the relevance of such variables in older people’s health has raised less scholarly attention than in younger age groups. This study examines the relevance of gender and social support in the self-rated health and life satisfaction of elderly Spanish people. A cross-sectional study with a sample of 702 men and 754 women aged between 60 and 94 years was conducted. All participants were evaluated through questionnaires that assess gender role traits, social support, and life satisfaction. Results: Men scored higher than women in masculine/instrumental trait and in life satisfaction whereas women scored higher than men in feminine/expressive trait. Results from multiple regression analyses indicated that women and men presenting higher social support had better self-rated health and higher life satisfaction. High scores in masculine/instrumental trait also proved to be an important predictor of men’s and women’s high life satisfaction and of women’s better self-rated health, whereas the high feminine/expressive trait predicted better self-rated health in the men group. A high educational level was associated in the women’s group with better self-rated health and higher life satisfaction. Conclusions: We conclude that gender and social support are important social determinants of health among older people.

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