A MODEL OF DEMAND FOR LONGEVITY

EZE, Pius C. and Chikwendu, Nneka Francisca (2021) A MODEL OF DEMAND FOR LONGEVITY. Global Research Journal of Economic and Social Development, 1 (1). pp. 38-47. ISSN 2811-1753

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Abstract

To the extent that a person's lifestyle affects the length of the person's life, personal lifestyle choices provide a means of formalizing the endogeneity of longevity. In this essay the demand for medical care is considered a lifestyle choice, motivated by the person's desire to prolong her lifetime. A fully-informed consumer chooses lifestyles in order to maximize her lifetime utility. The model is necessarily dynamic because a person's lifetime has multiple periods. The optimization yields the person's survival motivated demand for medical. Mathematically, endogeneity of longevity implies that the upper limit of integration is determined in the model. The key policy question is the following: If your life is completely under your control, how long would you choose to live? Literature review is in section, The model is presented in section, Results and policy implications are discussed in section 4, with conclusions and references in sections 5 and 6 respectively.

Item Type:	Article
Subjects:	H Social Sciences > HB Economic Theory
Divisions:	Faculty of Management and Social Sciences
Depositing User:	mrs chioma hannah
Date Deposited:	05 Aug 2022 13:30
Last Modified:	05 Aug 2022 13:36
URI:	http://eprints.gouni.edu.ng/id/eprint/3560

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