This paper provides a closed-form solution for the health capital model of health demand. The results are exploited in … model, the pure consumption model and a combination of both types of models. Given the plausible assumptions that (i) health … declines with age and that (ii) the health capital stock at death is lower than the health capital stock needed for eternal …

We develop an economic framework for valuing improvements to health and life expectancy, based on individuals …' willingness to pay. We then apply the framework to past and prospective reductions in mortality risks, both overall and for … about half of average annual GDP over the period. Reduced mortality from heart disease alone has increased the value of life …

We develop an economic framework for valuing improvements to health and life expectancy, based on individuals …' willingness to pay. We then apply the framework to past and prospective reductions in mortality risks, both overall and for … about half of average annual GDP over the period. Reduced mortality from heart disease alone has increased the value of life …

theory in which individuals take into account the fact that the consumption of addictive goods reduces their health and …In this paper I unify the economic theories of addiction and health deficit accumulation and develop a life cycle …