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Aids: An Economic Approach to the Choice of Policies

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  • P.J. LLOYD

Abstract

This paper presents a novel approach to the difficult problem of society choosing the optimal set of policy instruments to control the spread of AIDS. The economic approach emphasizes the determinants of agents' behaviour and the reciprocal nature of the market failure problem. The nature of the social objective function is discussed and an expected‐utility‐maximizing model of the behaviour of HIV‐infectious agents is developed In the light of the agents' responses to government policies, some general principles relating to the ranking of instruments and their targeting of individual groups and of instrument variables are developed

Suggested Citation

  • P.J. Lloyd, 1991. "Aids: An Economic Approach to the Choice of Policies," The Economic Record, The Economic Society of Australia, vol. 67(2), pages 126-138, June.
    • Handle: RePEc:bla:ecorec:v:67:y:1991:i:2:p:126-138
    DOI: 10.1111/j.1475-4932.1991.tb02536.x
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    References listed on IDEAS

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    1. Amiram Gafni & George W. Torrance, 1984. "Risk Attitude and Time Preference in Health," Management Science, INFORMS, vol. 30(4), pages 440-451, April.
    2. Torrance, George W., 1986. "Measurement of health state utilities for economic appraisal : A review," Journal of Health Economics, Elsevier, vol. 5(1), pages 1-30, March.
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    Cited by:

    1. Byron Carson, 2024. "Prevention externalities: private and public responses to the 1878 yellow fever epidemic," Public Choice, Springer, vol. 201(3), pages 579-606, December.
    2. Ross Parish, 1992. "Aids and ‘Market Failure’," The Economic Record, The Economic Society of Australia, vol. 68(3), pages 278-280, September.
    3. Francis, Peter J., 1997. "Dynamic epidemiology and the market for vaccinations," Journal of Public Economics, Elsevier, vol. 63(3), pages 383-406, February.
    4. Pj. Lloyd, 1992. "Aids and ‘Market Failure’; a Reply," The Economic Record, The Economic Society of Australia, vol. 68(3), pages 281-282, September.
    5. Jamsheed Shorish, 2007. "Welfare analysis of HIV/AIDS: Formulating and computing a continuous time overlapping generations policy model," Economics Discussion Paper Series 0709, Economics, The University of Manchester.

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