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On adaptation and the demand for health

  • Jon Gjerde
  • Sverre Grepperud
  • Snorre Kverndokk

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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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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  18. 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.
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  21. Gjerde, Jon & Grepperud, Sverre & Kverndokk, Snorre, 1999. "Optimal climate policy under the possibility of a catastrophe," Resource and Energy Economics, Elsevier, vol. 21(3-4), pages 289-317, August.
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