The Demand for Health: A Theoretical and Empirical Investigation
| Author | : | |
| Rating | : | 4.43 (744 Votes) |
| Asin | : | 0231179014 |
| Format Type | : | paperback |
| Number of Pages | : | 216 Pages |
| Publish Date | : | 2017-11-27 |
| Language | : | English |
DESCRIPTION:
He is the inaugural recipient of the American Society of Health Economists' award for lifetime contributions to the field of health economics. . Michael Grossman is Distinguished Professor of Economics at the City University of New York Graduate Center, Health Economics Program Director at the National Bureau of Economic Research, and Research Fellow at IZA. He is also the author of Determinants of Health: An Economic Perspective (Columbia, 2017)
(Ronald Anderson The Journal of Economic Literature)Grossman’s theoretical model, which is a major innovation, treats the demand for health (and the derived demand for medical care) as determined in the context of a life-cycle model of human capital investment. (Gary S. Becker)A seminal work in health economics, which led to a major stream of literature dealing with the determinants of the health status of the population. D. (Robert Michael, University of Chicago)The Demand for Health revolutionized economists’ theorizing about health. A most remarkable study, which ranks among the very most important and pioneering ones in health economics. (J. (David Salkever American Journal of Agricultural Economics) . (Joseph Newhouse, Harvard University)Grossman’s The Demand fo
Grossman bases his approach on Gary S. His work uniquely synthesized economic and public health knowledge and has catalyzed a vastly influential body of health economics literature. 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. Higher income may not lead to better health outcomes, as wealth enables the consumption of goods and services with adverse health effects. 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. Grossman also treats health and knowledge as equal parts of the durable stock of human capital. 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. 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.. It is well past time to brin