The Value of Human Capital and Health Behavior
Economics Bulletin, Vol. 32, No. 2, pp. 1785-1796, 2012
12 Pages Posted: 19 Jan 2013 Last revised: 27 Apr 2018
Date Written: 2012
The paper examines an effect of the return to human capital on health behavior. An approach is assumed in the paper which implies that health is an investment good complimentary for human capital. The latter is treated as actual skills and knowledge yielding a bonus above earnings. We propose a model relating health demand to human capital. According to the model, human capital determines health behavior via the expected effect of health on the return to human capital. The main implication of the model is that the educated people will not much differ from those lacking any education with regard to health behavior if their education does not generate the bonus.
Keywords: health capital, health behavior, human capital, leisure opportunity cost, Russia
JEL Classification: I12, I21, J22, J24, J31
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