Table 2. Open in new tab Estimates for...

	(1)	(2)	(3)
Utility function^a
σ (concavity)	4.64	4.64	5.18
	(0.000023)	(0.000028)	(0.000038)
κ (consumption weight)	0.68	0.65	0.42
	(0.000061)	(0.000063)	(0.000065)
β (discount factor)	1.04	1.04	0.98
	(0.000026)	(0.000035)	(0.000028)
ψ (fixed cost of work; hours/year)	1085	1013	1101
	(27.5)	(4.5)	(8.0)
$δ$ (time cost of bad health; hours/year)	131	249	251
	(13.9)	(34.6)	(6.9)
ϕ (stigma cost DI; hours/year)	1681	2029	2140
	(441.9)	(345.5)	(145.4)
$ξ$ (stigma cost UI; hours/year)	3620	3509	3568
	(8.9)	(1.9)	(5.9)
Bequests^b
$θ_{0}$ (intercept bequest weight)	$-$ 2.45	$-$ 3.91	-9.27
	(0.00014)	(0.00015)	(0.00010)
$θ_{1}$ (slope bequest weight)	4.73	5.56	2.51
	(0.00012)	(0.00014)	(0.000082)
K (concavity bequests)	675,282	913,915	441,061
	(29.0)	(34.3)	(6.0)
Function value	473.27	473.21	483.89

	(1)	(2)	(3)
Utility function^a
σ (concavity)	4.64	4.64	5.18
	(0.000023)	(0.000028)	(0.000038)
κ (consumption weight)	0.68	0.65	0.42
	(0.000061)	(0.000063)	(0.000065)
β (discount factor)	1.04	1.04	0.98
	(0.000026)	(0.000035)	(0.000028)
ψ (fixed cost of work; hours/year)	1085	1013	1101
	(27.5)	(4.5)	(8.0)
$δ$ (time cost of bad health; hours/year)	131	249	251
	(13.9)	(34.6)	(6.9)
ϕ (stigma cost DI; hours/year)	1681	2029	2140
	(441.9)	(345.5)	(145.4)
$ξ$ (stigma cost UI; hours/year)	3620	3509	3568
	(8.9)	(1.9)	(5.9)
Bequests^b
$θ_{0}$ (intercept bequest weight)	$-$ 2.45	$-$ 3.91	-9.27
	(0.00014)	(0.00015)	(0.00010)
$θ_{1}$ (slope bequest weight)	4.73	5.56	2.51
	(0.00012)	(0.00014)	(0.000082)
K (concavity bequests)	675,282	913,915	441,061
	(29.0)	(34.3)	(6.0)
Function value	473.27	473.21	483.89

Table 2.

Estimates for preference parameters

	(1)	(2)	(3)
	Life tables	Average subj. exp.	Heterogeneous exp.
Utility function^a
σ (concavity)	4.64	4.64	5.18
	(0.000023)	(0.000028)	(0.000038)
κ (consumption weight)	0.68	0.65	0.42
	(0.000061)	(0.000063)	(0.000065)
β (discount factor)	1.04	1.04	0.98
	(0.000026)	(0.000035)	(0.000028)
ψ (fixed cost of work; hours/year)	1085	1013	1101
	(27.5)	(4.5)	(8.0)
$δ$ (time cost of bad health; hours/year)	131	249	251
	(13.9)	(34.6)	(6.9)
ϕ (stigma cost DI; hours/year)	1681	2029	2140
	(441.9)	(345.5)	(145.4)
$ξ$ (stigma cost UI; hours/year)	3620	3509	3568
	(8.9)	(1.9)	(5.9)
Bequests^b
$θ_{0}$ (intercept bequest weight)	$-$ 2.45	$-$ 3.91	-9.27
	(0.00014)	(0.00015)	(0.00010)
$θ_{1}$ (slope bequest weight)	4.73	5.56	2.51
	(0.00012)	(0.00014)	(0.000082)
K (concavity bequests)	675,282	913,915	441,061
	(29.0)	(34.3)	(6.0)
Function value	473.27	473.21	483.89

	(1)	(2)	(3)
	Life tables	Average subj. exp.	Heterogeneous exp.
Utility function^a
σ (concavity)	4.64	4.64	5.18
	(0.000023)	(0.000028)	(0.000038)
κ (consumption weight)	0.68	0.65	0.42
	(0.000061)	(0.000063)	(0.000065)
β (discount factor)	1.04	1.04	0.98
	(0.000026)	(0.000035)	(0.000028)
ψ (fixed cost of work; hours/year)	1085	1013	1101
	(27.5)	(4.5)	(8.0)
$δ$ (time cost of bad health; hours/year)	131	249	251
	(13.9)	(34.6)	(6.9)
ϕ (stigma cost DI; hours/year)	1681	2029	2140
	(441.9)	(345.5)	(145.4)
$ξ$ (stigma cost UI; hours/year)	3620	3509	3568
	(8.9)	(1.9)	(5.9)
Bequests^b
$θ_{0}$ (intercept bequest weight)	$-$ 2.45	$-$ 3.91	-9.27
	(0.00014)	(0.00015)	(0.00010)
$θ_{1}$ (slope bequest weight)	4.73	5.56	2.51
	(0.00012)	(0.00014)	(0.000082)
K (concavity bequests)	675,282	913,915	441,061
	(29.0)	(34.3)	(6.0)
Function value	473.27	473.21	483.89

Notes: Standard errors in parentheses. ^a $u (c_{t}, l_{t}) = \frac{n_{t}}{1 - σ} [((\frac{c_{t}}{n_{t}})^{κ} l_{t}^{1 - κ})^{1 - σ} - 1]$ ⁠; $l_{t} = 4, 000 - h_{t} - ψ I {h_{t} > 0} - δ I {health = bad} - ϕ I {claim DI} - ξ I {claim UI}$ ⁠. ^b $b (w_{t}, n_{t}) = \exp [θ_{0} + θ_{1} n_{t}] \times \frac{(w_{t} + K)^{(1 - σ) κ}}{1 - σ}$ ⁠.

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