On adaptation , life-extension possibilities and the demand for health 1

  title={On adaptation , life-extension possibilities and the demand for health 1},
  author={Jon Gjerde and Sverre Grepperud and Snorre Kverndokk},
The purpose of this paper is to analyse the impacts of adaptation to a falling health state on the demand for health and medical care. This is done by integrating adaptation processes in the pure consumption model of Grossman. We also modify the model in another direction by introducing an uncertain lifetime. Model simulations show that adaptation affects the health variables by lowering the incentives to invest in health, as well as smoothening the optimal health stock path over the life cycle… CONTINUE READING

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