literature, which focused on inefficient health behavior of the less educated, we investigate the extent to which the education … delayed through health expenditure. Individuals are heterogeneous with respect to their return to education. The proposed …

by the fetal origins hypothesis. We argue that while the conventional health capital model is irreconcilable with fetal … origins of late-in-life health outcomes, the more recent health deficit model can generate shock amplification consistent with … the hypothesis. In order to discuss human health over the life cycle from conception to death, we develop a theory of …

Aging humans adapt to their worsening state of health and old people are usually happier than estimated by young … individuals. In this paper we investigate how adaptation to a deteriorating state of health affects health spending, life … adaptation generally increases the value of life (by about 2 to 5 percent), its impact on health behavior and longevity depends …

by the Fetal Origins Hypothesis. We argue that while the health capital model due to Grossman (Journal of Political … Economy, 80(2), 223-255, 1972) is irreconcilable with Fetal Origins of late-in-life health outcomes, the more recent health …