integrates health in the utility function and utilizes recent estimates on the effects of health on the marginal utility of …

Aging humans adapt to their worsening state of health and old people are usually happier than estimated by young … individuals. In this paper we investigate how adaptation to a deteriorating state of health affects health spending, life … adaptation generally increases the value of life (by about 2 to 5 percent), its impact on health behavior and longevity depends …

system results in lower health expenditure, but higher financial exposure of patients. Total welfare is higher under the …

We analyze human aging, understood as health deficit accumulation, for a panel of European individuals. For that … purpose, we use four waves of the Survey of Health, Aging and Retirement in Europe (SHARE dataset) and construct a health ….5 percent more health deficits from one birthday to the next. In non-linear regression (akin to the Gompertz-Makeham model …

detrimental behavioral responses. We explore this idea in the context of endogenous health and aging. We integrate physiological … state of health affects health spending, life expectancy, and the value of life. In counterfactual computational experiments … lifetime utility, health investments, and longevity. We then use the model to contribute to the literature on information …

We study biological aging of elderly U.S. Americans born 1904-1966. We use thirteen waves of the Health and Retirement … Study and construct a health deficit index as the number of health deficits present in a person measured relative to the … number of potential deficits. We find that, on average, Americans develop 5 percent more health deficits per year, that men …