Gjerde, Jon; Grepperud, Sverre; Kverndokk, Snorre - In: Applied Economics 37 (2005) 11, pp. 1283-1301
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,...