The Demand For Health
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The Demand For Health
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Author : Michael Grossman
language : en
Publisher: Columbia University Press
Release Date : 2017-08-08
The Demand For Health written by Michael Grossman and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-08 with Business & Economics categories.
A seminal work in health economics first published in 1972, Michael Grossman's The Demand for Health introduced a new theoretical model for determining the health status of the population. His work uniquely synthesized economic and public health knowledge and has catalyzed a vastly influential body of health economics literature. It is well past time to bring this important work back into print. Grossman bases his approach on Gary S. Becker's household production function model and his theory of investment in human capital. Consumers demand health, which can include illness-free days in a given year or life expectancy, and then produce it through the input of medical care services, diet, other market goods and services, and time. Grossman also treats health and knowledge as equal parts of the durable stock of human capital. Consumers therefore have an incentive to invest in health to increase their earnings in the future. From here, Grossman examines complementarities between health capital and other forms of human capital, the most important of which is knowledge capital earned through schooling and its effect on the efficiency of production. He concludes that the rate of return on investing in health by increasing education may exceed the rate of return on investing in health through greater medical care. Higher income may not lead to better health outcomes, as wealth enables the consumption of goods and services with adverse health effects. These are some of the major revelations of Grossman's model, findings that have great relevance as we struggle to understand the links between poverty, education, structural disadvantages, and health.
The Demand For Health
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Author : Adam Wagstaff
language : en
Publisher:
Release Date : 1987
The Demand For Health written by Adam Wagstaff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Medical economics categories.
This paper presents some estimates to the 'pure investment' and 'pure consumption' models of the demand for health. In contrast to previous studies, the paper presents parameter estimates of both reduced- form and structural demand for health care equations. The latter - which are obtained by treating health capital as a latent variable in a re- cursive equation system - provide a safer way of cheking the consi- stency of the model's predictions with the data. The present analysis of the pure consumption model differs from previous analyses in its recognition of the dependency of the shadow price of initial assets on the entire lifetime profiles of the model's exogenous variables. The paper also explores the implications in terms of reliability of parameter estimates of the failure on the part of the previous stu- dies to recognise this.
The Demand For Health
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Author : Adam Wagstaff
language : en
Publisher:
Release Date : 1987*
The Demand For Health written by Adam Wagstaff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987* with categories.
The Human Capital Model Of The Demand For Health
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Author : Michael Grossman
language : en
Publisher:
Release Date : 1999
The Human Capital Model Of The Demand For Health written by Michael Grossman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Consumer behavior categories.
This paper contains a detailed treatment of the human capital model of the demand for health. Theoretical predictions are discussed, and theoretical extensions are reviewed. Empirical research that tests the predictions of the model or studies causality between years of formal schooling completed and good health is surveyed. The model views health as a durable capital stock that yields an output of healthy time. Individuals inherit an initial amount of this stock that depreciates with age and can be increased by investment. The household production function model of consumer behavior is employed to account for the gap between health as an output and medical care as one of many inputs into its production. In this framework the shadow price' of health depends on many variables besides the price of medical care. It is shown that the shadow price rises with age if the rate of depreciation on the stock of health rises over the life cycle and falls with education if more educated people are more efficient producers of health. An important result is that, under certain conditions, an increase in the shadow price may simultaneously reduce the quantity of health demanded and increase the quantities of health inputs demanded.
Zambia S Health Reforms
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Author : V. Seshamani
language : en
Publisher:
Release Date : 2002
Zambia S Health Reforms written by V. Seshamani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Health care reform categories.
A Dynamic Analysis Of The Demand For Health Care
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Author : Jonneke Bolhaar
language : en
Publisher:
Release Date : 2008
A Dynamic Analysis Of The Demand For Health Care written by Jonneke Bolhaar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
Controversy In Applied Economics
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Author : Mike Campbell
language : en
Publisher:
Release Date : 1989
Controversy In Applied Economics written by Mike Campbell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Business & Economics categories.
The Demand For Health
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Author : Adam Wagstaff
language : en
Publisher:
Release Date : 1985
The Demand For Health written by Adam Wagstaff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Health services accessibility categories.
This paper develops a single model of the 'demand for health' and shows how it can provide a useful conceptual framework for analysing the interaction of socio-economic determinant of health. It goes on to indicate how the demand for health approach can shed light on the policy issues of inequalities in health, unemployment and health, and the design of prevention-orientated public policies. The paper introduces in turn each of the main 'building blocks' of the approach - the concept of the indifference curve, the health production function and the budget constraint - and brings them together in a single diagram to allow one to examine the effects of changing each of the key variables affecting an individual's 'demand for health'.
Economics And Health Care
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Author : John B. McKinlay
language : en
Publisher: MIT Press (MA)
Release Date : 1981
Economics And Health Care written by John B. McKinlay and has been published by MIT Press (MA) this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Business & Economics categories.
The Milbank Readers- Vol. 1
The Demand For Health
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Author : Adam Wagstaff
language : en
Publisher:
Release Date : 1985
The Demand For Health written by Adam Wagstaff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Medical economics categories.
This paper presents some estimates to the 'pure investment' and 'pure consumption' models of the demand for health. In contrast to previous studies, the paper presents parameter estimates of both reduced- form and structural demand for health care equations. The latter - which are obtained by treating health capital as a latent variable in a re- cursive equation system - provide a safer way of cheking the consi- stency of the model's predictions with the data. The present analysis of the pure consumption model differs from previous analyses in its recognition of the dependency of the shadow price of initial assets on the entire lifetime profiles of the model's exogenous variables. The paper also explores the implications in terms of reliability of parameter estimates of the failure on the part of the previous stu- dies to recognise this.