please do #18 Munchausen\'s syndrome. Munchausen\'s syndrome is a psychiatric di
ID: 1189413 • Letter: P
Question
please do #18
Munchausen's syndrome. Munchausen's syndrome is a psychiatric disease first recognized by doctors in the 1950s. Sufferers will feign unusual medical symptoms and seek out the most complicated treatments and procedures, typically out of a desire to gain the sympathy and attention of family, friends, and medical professionals. In some sense, we could say that health care enters into the utility function of the afflicted. As much as most people viscerally dislike sitting in a doctor's waiting room or undergoing surgery at a hospital, people with Munchausen's often cannot get enough. Imagine an individual in the Grossman model who suddenly develops Munchausen's syndrome. How would this affect her optimal level of H^+? Explain your answer, and make sure your explanation discusses the three roles of health in the model.Explanation / Answer
Grossman model treat people not only the consumer of the health but also of producers of health. In this regard , health is treated as consumer goods as well as investment goods. Thus, as per this model, Health plays following three roles:
As per the Grossman model, individuals invest in health unless MR equals MC.
When a person gets Munchausen’s syndrome, he starts treating health as medium of satisfying his utility. Thus, his consumption level increases as well as investment in health also increases to protect the future. His optimum level of health requirement will increase as the person will start drawing comparatively bigger Marginal benefits. It will not only raise the overall consumption and investment in health but also it will be followed by further production of health to meet the increase in demand. Thus, Healthcare industry grows.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.