The Grossman model

The central proposition of the Grossman model (Grossman 1972) is that health can be viewed as a durable capital stock that produces an output of healthy time. It is assumed that individuals inherit an initial stock of health that depreciates with age and can be increased by investment. The model is similar to human capital…

Single payer = single data point

Bernie Sanders and others are advocating a Medicare for All system.  At first glance this is a sensible approach.  Why not allow the government to provide equitable health insurance coverage for all?  Don’t we want to let all Americans have high quality care?  Why not use the power of the federal government to help negotiate…