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 …

biologically-founded life-cycle model of health deficit accumulation and endogenous longevity. We calibrate the model with U …

This paper provides a closed-form solution for the health capital model of health demand. The results are exploited in … model, the pure consumption model and a combination of both types of models. Given the plausible assumptions that (i) health … declines with age and that (ii) the health capital stock at death is lower than the health capital stock needed for eternal …

making of a couple into a biologically founded life-cycle model of health deficit accumulation and endogenous longevity. We …

In this paper I unify the economic theories of addiction and health deficit accumulation and develop a life cycle … theory in which individuals take into account the fact that the consumption of addictive goods reduces their health and …

immortality that is never reached. We consider an intertemporal problem where health investments and consumption choices are made …'s health condition, which is endogenous to lifestyle and health behavior. Formally, the infinite horizon approach has the … determinants of health deficits in this framework and show how individuals choose consumption and health expenditure over their …