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Demand for Health

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  • 160 Seiten
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Michael Grossman is Distinguished Professor of Economics at the City University of New York Graduate Center, Health Economics Prog... Weiterlesen
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Michael Grossman is Distinguished Professor of Economics at the City University of New York Graduate Center, Health Economics Program Director at the National Bureau of Economic Research, and Research Fellow at IZA. He is the inaugural recipient of the American Society of Health Economists' award for lifetime contributions to the field of health economics. He is also the author of Determinants of Health: An Economic Perspective (Columbia, 2017).


Michael Grossman


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. It is well past time to bring this important work back into print.

Grossman bases his approach on Gary S. Becker's household production function model and his theory of investment in human capital. Consumers demand health, which can include illness-free days in a given year or life expectancy, and then produce it through the input of medical care services, diet, other market goods and services, and time. Grossman also treats health and knowledge as equal parts of the durable stock of human capital. Consumers therefore have an incentive to invest in health to increase their earnings in the future. From here, Grossman examines complementarities between health capital and other forms of human capital, the most important of which is knowledge capital earned through schooling and its effect on the efficiency of production. He concludes that the rate of return on investing in health by increasing education may exceed the rate of return on investing in health through greater medical care. Higher income may not lead to better health outcomes, as wealth enables the consumption of goods and services with adverse health effects. These are some of the major revelations of Grossman's model, findings that have great relevance as we struggle to understand the links between poverty, education, structural disadvantages, and health.


List of Tables
Foreword to the 2017 Edition
Foreword to the 1972 Edition
Introduction and Summary
1. A Stock Approach to the Demand for Health
2. The Shadow Price of Health
3. The Pure Consumption Model
4. An Empirical Formulation of the Model
5. Empirical Results: The Norc Sample
6. Joint Production and the Mortality Data
Appendix A. Utility Maximizations
Appendix B. Derivation of Investment Model Formulas
Appendix C. Derivation of Consumption Model Formulas
Appendix D. Statistical Properties of the Model
Appendix E. Additional Empirical Results
Appendix F. Sources and Methods: Mortality Analysis


Titel: Demand for Health
Untertitel: A Theoretical and Empirical Investigation
EAN: 9780231544528
ISBN: 978-0-231-54452-8
Digitaler Kopierschutz: Adobe-DRM
Format: E-Book (epub)
Herausgeber: Columbia University Press
Genre: Wirtschaft
Anzahl Seiten: 160
Veröffentlichung: 08.08.2017
Jahr: 2017
Untertitel: Englisch
Dateigrösse: 4.3 MB