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- A seminal work in health economics first published in 1972, Michael Grossman's The Demand for Health introduced a new theoretical model for determining the health status of the population. His work uniquely synthesized economic and public health knowledge and has catalyzed a vastly influential body of health economics literature.
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Grossman model of health demand. The Grossman model of health demand is a model for studying the demand for health and medical care outlined by Michael Grossman in a monograph in 1972 entitled: The demand for health: A theoretical and empirical investigation. The model based demand for medical care on the interaction between a demand function ...
Dec 4, 2019 · The central proposition of the Grossman model (Grossman 1972) is that health can be viewed as a durable capital stock that produces an output of healthy time. It is assumed that individuals inherit an initial stock of health that depreciates with age and can be increased by investment.
Sep 25, 2017 · A seminal work in health economics first published in 1972, Michael Grossman's The Demand for Health introduced a new theoretical model for determining the health status of the population. His work uniquely synthesized economic and public health knowledge and has catalyzed a vastly influential body of health economics literature.
- Michael Grossman
- September 25, 2017
- 2017
By that I mean that an increase in schooling raised the marginal products of medical care and other health inputs in the health production function. In this productive efficiency model, an increase in schooling lowers the price of health and therefore raises the optimal quantity of health demanded.
theoretical sections of this study stresses that the shadow price of health. depends on many variables besides the price of medical care. Shifts in these variables alter the optimal amount of health and also the derived. demand for gross investment (measured, say, by medical expenditures).
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Mar 10, 2020 · The Grossman model is the way economists think about the cumulative pattern of individual health decisions and therefore provides a starting point for how past experience in behavior and context combine to determine the health status of various different age groups in the current population.
a stock approach to the demand for health download; xml; the shadow price of health download; xml; the pure consumption model download; xml; an empirical formulation of the model download; xml; empirical results:: the norc sample download; xml; joint production and the mortality data download; xml; appendix a: utility maximizations download; xml
