Specification of the Health Production Function and its Behavioral Implications

dc.contributor.author	Bolin, Kristian
dc.contributor.author	Caputo, Mikael R.
dc.contributor.organization	Department of Economics, University of Gothenburg	en
dc.date.accessioned	2022-05-13T08:21:21Z
dc.date.available	2022-05-13T08:21:21Z
dc.date.issued	2022-05
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
dc.format.extent	25	en
dc.identifier.issn	1403-2465
dc.identifier.uri	https://hdl.handle.net/2077/71673
dc.language.iso	eng	en
dc.publisher	University of Gothenburg	en
dc.relation.ispartofseries	Working Papers in Economics	en
dc.relation.ispartofseries	821	en
dc.subject	health investment	en
dc.subject	health production function	en
dc.subject	health stock	en
dc.subject	optimal control	en
dc.title	Specification of the Health Production Function and its Behavioral Implications	en
dc.type	Text	en
dc.type.svep	report	en

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