Wealthier individuals engage in healthier behavior. This paper seeks to explain this phenomenon by exploiting both inheritances and lottery winnings to test a theory of health behavior. We distinguish between the direct monetary cost and the indirect health cost (value of health lost) of...

Wealthier individuals engage in healthier behavior. This paper seeks to explain this phenomenon by developing a theory of health behavior, and exploiting both lottery winnings and inheritances to test the theory. It distinguishes between the direct monetary cost and the indirect health cost...

Understanding of the substantial disparity in health between socioeconomic status (SES) groups is hampered by the lack of a sufficiently comprehensive theoretical framework to interpret empirical facts and to predict yet untested relations. Motivated by the observation that medical care explains...

The Grossman model is the canonical theory of the demand for health and health investment. This paper provides strong support for the model's canonical status. Yet several authors have identified at least four significant limitations to the literature spawned by Grossman's seminal 1972 papers. I...

In this paper, we develop an endogenous growth model that integrates skill driven technological change, human capital accumulation through formal schooling, with health capital accumulation. The relationships among economic growth, average health level, labor allocation, and longevity of the...

Head Start is a comprehensive, early childhood development program designed to augment the human capital and health capital levels of disadvantaged children. Grossman's (1972) health capital model suggests that early investments of this type should have lasting effects on health outcomes. This...

The paper proposes sythesizing the most important correlations between the dimensions of human capital, in order to provide a better theoretical basis for assessing realistic valence motivated human resources sustainable development of society. In terms of conceptual work based on the...

The aim of this paper is to provide an analysis of the impact of investment in health-policies on economic development. In order to do this, it is vital to bear in mind the fact that long-term economic growth is characterized by the interaction between the physical aspects of capital dynamics...

More progressive taxes, holding tax liability constant, generate disincentives for health investment by decreasing benefits for additional working time and, thus, decreasing returns to health. On the other hand, progressive taxation may induce individuals to invest more in health for the purpose...

The fetal origins hypothesis has received considerable empirical support, both within epidemiology and economics. The present study compares the ability of two rival theoretical frameworks in accounting for the kind of path dependence implied by the fetal origins hypothesis. We argue that while...