Individuals as Producers of Their Health

Peter Zweifel (), Friedrich Breyer and Mathias Kifmann ()
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Peter Zweifel: University of Zurich
Mathias Kifmann: University of Augsburg

Chapter 3 in Health Economics, 2009, pp 75-118 from Springer

Abstract: Abstract “Health is not everything in life, but without health, life is nothing”. This proverb points to the dual property of health. (1) Health is a highly valued asset. Sometimes it is even claimed that health is the only thing which counts in life. The first part of the proverb reminds us that other values and goals do exist in life, yet, compared with health, they rank lower on the preference scale of most people. While this priority of health is accepted as a fact in the following section, it does not rule out that health risks (i.e., an increased probability of poor health) are taken in order to achieve other goals.

Keywords: Medical Service; Demand Function; Marginal Utility; Labor Income; Consumption Good (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/978-3-540-68540-1_3

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