Publication: The Grossman model after 40 years
The Grossman model after 40 years
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Zweifel, P. (2012). The Grossman model after 40 years. European Journal of Health Economics, 13(6), 677–682. https://doi.org/10.1007/s10198-012-0420-9
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This editorial presents a critical review of the health model pioneered by Michael Grossman (MGM) in 1972 [8]. It argues that whereas the MGM has great charm for economists, it fails to achieve acceptance by interested laypersons and policy makers. The main reasons for this failure are: (1) the assumption of a long and fixed planning horizon, (2) a fixed ratio between individuals healthcare expenditure and the cost of their own health-enhancing efforts regardless of their state of health, and (3) their presumed ability to restore the
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Zweifel, P. (2012). The Grossman model after 40 years. European Journal of Health Economics, 13(6), 677–682. https://doi.org/10.1007/s10198-012-0420-9
