Hence, the willingness to pay for improved health is likely to rise sharply with income, and so is the willingness to pay for health care, since health care is a vital input in the production of health. Hall and Jones (2007) claim that as people get richer and consumption rises, the marginal utility of consumption falls rapidly. Furthermore, the marginal utility of life extension does not decline and spending on health to extend life allows individuals to purchase additional periods of utility.