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 …

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 …