Pricing and R&D When Consumption Affects Longevity  

Oleh:

Geoffard, Pierre-Yves ; Philipson, Tomas

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Rand Journal of Economics vol. 33 no. 1 (2002), halaman 85-95.
Topik: consumption; pricing; R & D; consumption affects; longevity

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.6 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

We 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, we argue that there is an R & D feedback for such goods when the market size expands through longevity - induced population growth. We also argue that as developed countries devote large shares of public spending to old-age programs that may themselves affect longevity, e. g., Medicare and Social Security, the nonstandard effects that these programs introduce may become increasingly important.

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