This paper reports the first test of how exogenous health shocks impact people's longevity expectations. The analysis exploits the panel structure of the Health and Retirement Study and tests whether smokers, former smokers and those who never smoked react differently to serious, smoking related...

This paper reports the first effort to use data to evaluate how new information, acquired through exogenous health shocks, affects people's longevity expectations. We find that smokers react differently to health shocks than do those who quit smoking or never smoked. These differences, together...

This paper reports the first test of how exogenous health shocks impact people's longevity expectations. The analysis exploits the panel structure of the Health and Retirement Study and tests whether smokers, former smokers and those who never smoked react differently to serious, smoking related...