{"id":8055,"date":"2023-07-23T08:03:14","date_gmt":"2023-07-23T12:03:14","guid":{"rendered":"https:\/\/creei.ca\/at-home-versus-in-a-nursing-home-long-term-care-settings-and-marginal-utility\/"},"modified":"2024-02-07T10:04:51","modified_gmt":"2024-02-07T15:04:51","slug":"home_versus_nursing_home_ltc_settings_marginal_utility","status":"publish","type":"page","link":"https:\/\/creei.ca\/en\/home_versus_nursing_home_ltc_settings_marginal_utility\/","title":{"rendered":"At Home versus in a Nursing Home: Long-term Care Settings and Marginal Utility"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><article class=\"node-789 node node-publications node-promoted view-mode-full node-by-viewer clearfix\">\n<div class=\"field field-name-body field-type-text-with-summary field-label-above\">\n<div class=\"field field-name-field-auteurs-publication field-type-taxonomy-term-reference field-label-inline clearfix\">\n<div class=\"field-label\">\n<p>Short Summary:<br \/>\nMarginal utility of financial resources when needing long-term care, and the related incentives for precautionary savings and insurance, may vary significantly by whether one receives care at home or in a nursing home. In this paper, we develop strategic survey questions to estimate those differences. All else equal, we find that the marginal utility is significantly higher when receiving care at home rather than in a nursing home. We then use these estimates within a quantitative life cycle model to evaluate the impact of the expected choice of care setting (home versus nursing home) on precautionary savings and insurance valuation. The estimated marginal utility differences imply a significant increase in the incentives to save when expecting to receive care at home. Larger incentives to self-insure also translate to a higher valuation of additional subsidies for home care than for nursing homes, shedding light on an efficient way to expand public long-term care subsidies. We also examine how the magnitude of our results quantitatively vary with the existing public long-term care subsidies.<\/p>\n<\/div>\n<div class=\"field-label\">Authors publication: Bertrand Achou, Philippe De Donder, Franca Glenzer, Minjoon Lee et Marie-Louise Leroux<\/div>\n<\/div>\n<div class=\"field field-name-field-num-ro field-type-text field-label-inline clearfix\">\n<div class=\"field-label\">Number: 23-03<\/div>\n<\/div>\n<div class=\"field field-name-field-fichier field-type-file field-label-inline clearfix\">\n<div class=\"field-label\">File: <img decoding=\"async\" class=\"alignnone size-full wp-image-428\" src=\"https:\/\/creei.ca\/wp-content\/uploads\/2019\/07\/application-pdf.png\" alt=\"\" width=\"16\" height=\"16\" \/><a href=\"https:\/\/creei.ca\/wp-content\/uploads\/2023\/06\/cahier_23_03_home_versus_nursing_home_ltc_settings_marginal_utility.pdf\">cahier_23_03_home_versus_nursing_home_ltc_settings_marginal_utility.pdf<\/a><\/div>\n<\/div>\n<div class=\"field field-name-field-ann-e field-type-taxonomy-term-reference field-label-inline clearfix\">\n<div class=\"field-label\">Year: 2023<\/div>\n<\/div>\n<\/div>\n<div><\/div>\n<\/article>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-8055","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/pages\/8055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/comments?post=8055"}],"version-history":[{"count":2,"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/pages\/8055\/revisions"}],"predecessor-version":[{"id":8574,"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/pages\/8055\/revisions\/8574"}],"wp:attachment":[{"href":"https:\/\/creei.ca\/en\/wp-json\/wp\/v2\/media?parent=8055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}