Pricing and R&D When Consumption Affects Longevity
分析消费量决定消费时长的商品，特别是影响寿命的健康相关消费，研究其私人定价、研发投入以及公共补贴和税收的财政效应，指出长寿带来的人口增长会扩大市场规模进而反馈于研发。
We analyze goods for which the amount of consumption determines the duration of consumption, focusing on health-related consumption that affects longevity. The characteristics of the demand for such goods lead to unique predictions about private pricing and investment in R&D as well as the fiscal effects of public subsidies and taxes. In particular, we argue that there is an R&D feedback for such goods when the market size expands through longevity-induced population growth. We also argue that as developed countries devote large shares of public spending to old-age programs that may themselves affect longevity, e.g., Medicare and Social Security, the nonstandard effects that these programs introduce may become increasingly important.