Health and the Household

Abstract

Abstract We underscore the close link between the economics of the household and health economics in a framework in which consumers produce their fundamental objects of choice. Health is produced with inputs of market goods and services and the own time of the consumer. Health is demanded not only because it is an argument in the utility function but also because it determines the amount of time available for market and nonmarket production. The latter motive points to health capital as one component of the stock of human capital. The economics of the household has much to say about the determinants of investment in this type of capital. The five health economics papers in this issue of Review of Economics of the Household are connected by an emphasis on the role of time in the production of two aspects of health: obesity and the general health of elderly persons.

Keywords: Health economics

JEL Classification: D10