This paper presents a model of smoking choice in which rationality is bounded by limitations in intertemporal … computational abilities. The model is applied to the youth decision to initiate smoking. Lifetime smoking paths of representative … suggested that public policy interventions that raise the near term cost of smoking will be more effective in reducing lifetime …

A number of studies have indicated that peer smoking is a highly influential factor in a young person's decision to …. This paper develops an econometric model of youth smoking which incorporates both peer effects and selection effects, and …

We examine the role of changing mortality in explaining the rise of retirement over the course of the 20th century. We … of death. In an environment in which mortality is high, an individual who saved up for retirement would face a high risk …. As mortality falls, however, it becomes optimal to plan, and save for, retirement. We simulate our model using actual …

Many workers reveal a preference for a gradual reduction in work hours as they approach retirement (“phased retirement …”), rather than a sudden change from full-time work to full-time retirement. Pension regulations may impede phased retirement … without a switch of employers by prohibiting access to pension assets. This study uses Health and Retirement Survey data to …