This collection of Michael Grossman’s most important papers adds essential background and depth to his work on economic determinants of public health. Each of the book’s four sections includes an introduction that contextualizes the issues and addresses the larger stakes of his work. An...

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...

Abstract User sanctions influence the legal risk for consumers who engage in illegal drug markets. If a reduction in user sanctions leads to an increase in consumption, drug prices will rise unless supply is perfectly elastic. In equilibrium, a change in consumption associated with decreasing...