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On adaptation and the demand for health

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Author Info

  • Jon Gjerde
  • Sverre Grepperud
  • Snorre Kverndokk

Abstract

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 smoothing 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.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/00036840500118663
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 37 (2005)
Issue (Month): 11 ()
Pages: 1283-1301

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Handle: RePEc:taf:applec:v:37:y:2005:i:11:p:1283-1301

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References

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  4. Ried, Walter, 1998. "Comparative dynamic analysis of the full Grossman model," Journal of Health Economics, Elsevier, vol. 17(4), pages 383-425, August.
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  6. Valerie Lechene & Jéróme Adda, 2001. "Smoking and Endogenous Mortality: Does Heterogeneity in Life Expectancy Explain Differences in Smoking Behavior?," Economics Series Working Papers 77, University of Oxford, Department of Economics.
  7. Kverndokk, Snorre, 2009. "Why do people demand health?," HERO On line Working Paper Series 2000:5, Oslo University, Health Economics Research Programme.
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  18. Michael Grossman, 1972. "The Demand for Health: A Theoretical and Empirical Investigation," NBER Books, National Bureau of Economic Research, Inc, number gros72-1, May.
  19. Groot, Wim, 2000. "Adaptation and scale of reference bias in self-assessments of quality of life," Journal of Health Economics, Elsevier, vol. 19(3), pages 403-420, May.
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Citations

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Cited by:
  1. Octave Jokung & Serge Macé, 2013. "Long-term health investment when people underestimate their adaptation to old age-related health problems," The European Journal of Health Economics, Springer, vol. 14(6), pages 1003-1013, December.
  2. Carbone, Jared C. & Kverndokk, Snorre, 2014. "Individual investments in education and health," HERO On line Working Paper Series 2014:1, Oslo University, Health Economics Research Programme.

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