Empirical studies show that years of schooling are positively correlated with good health. The implication may go from education to health, from health to education, or from factors that influence both variables. We formalize a model that determines an individual's demand for knowledge and...

Empirical studies show that years of schooling are positively correlated with good health. The implication may go from education to health, from health to education, or from factors that influence both variables. We formalize a model that determines an individual's demand for knowledge and...

Empirical studies show that years of schooling are positively correlated with good health. The implication may go from education to health, from health to education, and from factors that influence both variables. We formalize a model that determines an individual's demand for knowledge and...

In the present paper we examine how different sets of beliefs about the health effects of smoking would influence a rational smoker. By embedding the rational addiction theory in a Grossman model of health investment modified to take account of psychological adaptation effects, we present a...

Several empirical papers have indicated that the health inequalities in the Nordic welfare states seem to be at least as high as health inequalities in other European countries even if the Nordic states have a more egalitarian income structure. This is in contrast to standard economic theory...

We study how measures of socioeconomic health inequality inform about welfare inequality. We argue that transfers of either income or health from a better off to a worse off individual should reduce welfare inequality. Lacking an objective measure of individual welfare, we suggest that such a...