@techreport{NBERw5760,
 title = "Mortality Contingent Claims, Health Care, and Social Insurance",
 author = "Tomas Philipson and Gary S. Becker",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "5760",
 year = "1996",
 month = "September",
 URL = "http://www.nber.org/papers/w5760",
 abstract = {This paper analyzes the savings and health care impacts of mortality contingent claims, defined here as income measures, such as annuities and life-insurance, under which earned income is contingent on the length of one's life.  The postwar increase in mandatory annuity and life-insurance programs, as well as the rapid increase in life-expectancy, motivates a better understanding of the effects that mortality contingent claims have on resources devoted to life-extension.  We analyze the incentives that such claims imply for life-extension when resources may affect mortality endogenously and argue that these incentives dramatically alter the standard conclusions obtained when mortality is treated exogenously.},
}