by Professor Euna Han, College of Pharmacy

Health Behavior and Health Economics

It is not so strange to think of health as a good or an asset. Especially since there is a general improvement in the standard of living, there is a growing desire for a healthy life. Accordingly, we show the tendency to spend considerable time and money to maintain a healthy life. As the net investment in health increases, there is a natural consideration of the outputs derived, and this is where the interface between economics and health is formed. Health economics is an area of applied economics that focuses on the production and supply of health-related services and goods, the demand and utilization of healthcare services, and the factors and performance of individuals' investments in health-related assets.

Investment in health assets is manifested through various health-related behaviors of individuals. Individual health behaviors are affected not only by personal factors but also by the socio-economic factors encountered they are exposed to. An individual's health behavior not only has a direct impact on the individual's health but also on multiple other areas. Therefore, an individual's health behaviors generate social costs and benefits. As such, understanding the determinants of individual health behaviors and their consequences has emerged as an area of significance in economics that is concerned with the efficient allocation of resources.

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https://www.yonsei.ac.kr/en_sc/yonsei_news.jsp?article_no=205345&mode=view