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Health Capital as a Determinant of Living Standard and Life Satisfaction. An Empirical Study

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  • Ludwig Dittrich

Abstract

In this paper, the data from a socio—economic survey carried out in South Bohemia (a region of the Czech Republic) in the years 2003 and 2004 are used to estimate two models. The first model considers the health status of the individual to be an investment commodity, which enhances the productivity and the earning potential of the individual and thus his/her living standard. The second model considers the influence of health status of the individual on his/her life satisfaction and treats the health of the individual as a consumption commodity entering the individual preference function directly. In both models, the health status of the individual is significant in influencing dependent variables, living standard and life satisfaction respectively. Copyright International Atlantic Economic Society 2011

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  • Ludwig Dittrich, 2011. "Health Capital as a Determinant of Living Standard and Life Satisfaction. An Empirical Study," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 17(4), pages 413-420, November.
    • Handle: RePEc:kap:iaecre:v:17:y:2011:i:4:p:413-420:10.1007/s11294-011-9312-5
    DOI: 10.1007/s11294-011-9312-5
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    1. Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters, in: Schooling, Experience, and Earnings, pages 1-4, National Bureau of Economic Research, Inc.
    2. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1.
    3. Yoram Ben-Porath, 1967. "The Production of Human Capital and the Life Cycle of Earnings," Journal of Political Economy, University of Chicago Press, vol. 75(4), pages 352-352.
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