beginning : Bengt Liljas
Introduction :
In this ledger, it is about the study of insurance and imperfect financial markets in Grossmans demand for health pretending. It is a study from the program on economic evaluation of checkup technology, Department of health policy and management, Harvard school of public health, Boston, USA. In this journal, it study about the health demand is one of the more or less major subject matter in the scope of health economics. Grossman (1972) deduce a conclusion saying that the classic model is the foundation leads to the health economics. Nevertheless, the theoretical extensions of the model in this journal as well as the competing economic models are comparatively few. In this journal, Tabata and Ohkusa (2000) showed that the non-existence of the best solution in their model with sociable insurance and offer a different formulation. There are two fictional characters of model which are the model with insurance and the different one is the model with imperfect financial market. In the model with insurance, they mostly rely on the assumption that the households production functions are similar which is the impact of medicines on health investment is constant and positive.
Meanwhile the model with imperfect financial markets, the Grossmans model is deterministically determined and the individual knows with certainty the set up of health investments. In the time constraint that how long he or she will live in this world, and also his or her life time income. In providing that the solution does not exist, the authors alternate the problem in optimal control theory terms, than to clutch it in the original calculus of variations. Then the other type of insurance system suggested by Tabata and Ohkusa is unfortunately does not full complement to real life so well, and which they noticed and suggests that the insurance high society should protect the individuals...If you want to get a full essay, rate it on our website: Ordercustompaper.com
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