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On the Economics of Rational Self-Medication AgEcon
Akpalu, Wisdom.
It has been established in the medical literature that self-medicating with imperfect information about either the use of a genuine or counterfeit drug or based on wrong self-diagnosis of ailment, which is predominant especially in developing countries, is a risky investment in health capital. This paper models the decision to self-medicate and the demand for self-medicated drugs. We suppose that investment in self-medication depends on the perception of its effectiveness. The results obtained show that the decision to self-medicate depends on the relative price and perceived effectiveness of self-medication, the elasticity of the shadow value of health with respect to the quantity of health capital, and the relative effectiveness of self-medication in...
Tipo: Working or Discussion Paper Palavras-chave: Health Production; Self-Medication; Risky Investment; Government Policy; Dynamic Analysis; Demand and Price Analysis; Health Economics and Policy; Institutional and Behavioral Economics; Risk and Uncertainty; I12; I18; D81; C61.
Ano: 2008 URL: http://purl.umn.edu/6363
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Health Economics for Low-Income Countries AgEcon
Mwabu, Germano.
Good health is a determinant of economic growth and a component of well-being. This paper discusses and synthesizes economic models of individual and household behavior, showing how they may be used to illuminate health policy making in low-income countries. The models could help address questions such as: How can the health of the poor be improved, and what are the economic consequences of better health? What policies would improve intra-household distribution of health outcomes? An extensive literature on health human capital and household models, and on related field experiments is reviewed in an attempt to answer these questions. It is found that there are large returns to health improvements in low-income countries. Moreover, health improvements in...
Tipo: Working or Discussion Paper Palavras-chave: Health Production; Health Care Markets; Household Production and Intrahousehold Allocation; Health Economics; Low-income countries.; Health Economics and Policy; I12; I11; D13; O12.
Ano: 2007 URL: http://purl.umn.edu/10118
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