Pricing and R&D When Consumption Affects Longevity

Détails

ID Serval
serval:BIB_33F991309078
Type
Article: article d'un périodique ou d'un magazine.
Collection
Publications
Titre
Pricing and R&D When Consumption Affects Longevity
Périodique
RAND Journal of Economics
Auteur(s)
Geoffard Pierre-Yves, Philipson Tomas
ISSN
0741-6261
Statut éditorial
Publié
Date de publication
2002
Volume
33
Numéro
1
Pages
85-95
Langue
anglais
Résumé
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. As developed countries devote large shares of public spending to old-age programs that may themselves affect longevity, e.g., Medicare and Social Security in the United States, these effects may become increasingly important. [Authors]
Mots-clé
Economics
Création de la notice
14/03/2008 11:20
Dernière modification de la notice
03/03/2018 15:50
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