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On adaptation and the demand for health

Sammendrag

The purpose of this paper is to analyse the impacts of adaptation to failing health. This is done by integrating adaptation processes in a Grossman type of pure consumption model. Model simulations show that adaptation affects the health variables by lowering the incentives to invest in health, as well as smoothening the optimal health stock path over the life cycle. Whether or not the risk of mortality is an object of choice has important effects when studying adaptation, as well as for the joint development of the health variables

Om publikasjonen

Forfattere:

Gjerde, Jon, Sverre Grepperud and Snorre Kverndokk

År:

2005

Tidsskrift:

Applied Economics

Serie:

Vitenskapelige tidskrift

JEL:

C61; D91; I12

Nøkkelord:

Grossman model; Demand for health; Adaptation; Life extension; Ageing.

Prosjekt:

4101 - Økonomi og helse

Kontakt:

snorre.kverndokk@frisch.uio.no