haku: @author Philipson, T. / yhteensä: 8
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| Tekijä: | Geoffard, P.-Y. Philipson, T. |
| Otsikko: | Pricing and R&D when consumption affects longevity |
| Lehti: | RAND Journal of Economics
2002 : SPRING, VOL. 33:1, p. 85-95 |
| Asiasana: | PRICING CONSUMPTION R&D ANALYTICAL REVIEW |
| Kieli: | eng |
| Tiivistelmä: | The authors analyze goods for which the amount of consumption determines the duration of consumption, focusing on health-related consumption that affects longevity. The characteristics of the demand for such goods lead to unique predictions about private pricing and investment in R&D as well as the fiscal effects of public subsidies and taxes. In particular, the authors argue that there is an R&D feedback for such goods when the market size expands through longevity-induced population growth. As developed countries devote large shares of public spending to old-age programs that may themselves affect longevity, e.g., Medicare and Social Security in the United States, these effects may become increasingly important. |
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