What is a human capital model?

Underlying the human capital model ( Schultz, 1961) is the idea that individuals invest in education with the expectation to receive returns in the form of earnings and better employment opportunities when they enter the job market ( Marginson, 1989 ).

What is a simple human capital investment model?

The simple human capital investment model says that investments are more likely when the returns are higher, the costs are lower (possibly lower with economies of scale provided by schools), and the discount rate (possibly a function of parental income and greater certainty) is lower.

Is the demand for Health a human capital model?

My approach to the demand for health has been labeled as the human capital model in much of the literature on health economics because it draws heavily on human capital theory [Becker (1964, 1967), Ben-Porath (1967), Mincer (1974)].