Macé, Serge; Le Lec, Fabrice - In: Journal of Economic Psychology 32 (2011) 3, pp. 434-439
Many adults have an overly pessimistic view of old age because they fail to correctly predict their ability to hedonically adapt to old-age health related problems. A standard utility model where the marginal utility of health is higher at a lower level of health predicts that this overly...