integrates health in the utility function and utilizes recent estimates on the effects of health on the marginal utility of … age relative to initial consumption. A calibration of the model with data from gerontology produces an empirically …

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 age …

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 …, calibrate it with data from gerontology, and compare behavior and outcomes of adapting and non-adapting individuals. While …

biologically-founded life-cycle model of health deficit accumulation and endogenous longevity. We calibrate the model with U ….S. data and perform the counterfactual experiment of preventing the partnership. We elaborate three economic channels and find … longevity of men can be motivated by economic calculus while the marriage gain for women observed in the data is attributed to …

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 …

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 …

waves of the Survey of Health, Aging, and Retirement in Europe (SHARE) dataset and construct a health deficit index. Results … from log-linear regressions suggest that, on average, elderly European men and women developed about 20 percent more health … suggesting that health deficits in old age are up to 40 percent higher for children suffering from hunger. The wedge of health …

making of a couple into a biologically founded life-cycle model of health deficit accumulation and endogenous longevity. We … calibrate the model with U.S. data and perform the counterfactual experiment of preventing the partnership. We elaborate four … in the data is attributed to selection or other (non-standard economic) motives. …