| dc.contributor.author | Bolin, Kristian | |
| dc.contributor.author | Caputo, Mikael R. | |
| dc.date.accessioned | 2022-05-13T08:21:21Z | |
| dc.date.available | 2022-05-13T08:21:21Z | |
| dc.date.issued | 2022-05 | |
| dc.identifier.issn | 1403-2465 | |
| dc.identifier.uri | https://hdl.handle.net/2077/71673 | |
| dc.description.abstract | The health production function of the canonical health-capital model is generalized to allow the
state of health to affect the total and marginal products of health investment. If the total and
marginal products of health investment are nonincreasing functions of the state of health, then
the solution of the generalized model is locally qualitatively identical to that of the canonical
model. Moreover, in contrast to the canonical model, the generalized model is able to rationalize
the cycling of the state of health and health investment observed in some individuals. The necessary
conditions on the health production function for cyclical behavior are identified as well. | en_US |
| dc.format.extent | 25 | en_US |
| dc.language.iso | eng | en_US |
| dc.publisher | University of Gothenburg | en_US |
| dc.relation.ispartofseries | Working Papers in Economics | en_US |
| dc.relation.ispartofseries | 821 | en_US |
| dc.subject | health investment | en_US |
| dc.subject | health production function | en_US |
| dc.subject | health stock | en_US |
| dc.subject | optimal control | en_US |
| dc.title | Specification of the Health Production Function and its Behavioral Implications | en_US |
| dc.type | Text | en_US |
| dc.type.svep | report | en_US |
| dc.contributor.organization | Department of Economics, University of Gothenburg | en_US |
