We explore the proposition that expected longevity affects retirement decisions and accumulated wealth using micro data … drawn from the Health and Retirement Study for the United States. We use data on a person’s subjective probability of … survival to age 75 as a proxy for their prospective lifespan. In order to control for the presence of measurement error and …

1. Introduction -- 2. The evil of a premature death -- 3. An insurance against a short life -- 4. Reversing retirement … insurance against the risk of an early death. In contrast to the way in which economically developed countries provide ways of … insuring citizens against other possibilities, such as unemployment and disease, no such social insurance mechanism exists for …

morbidity, determining the disutility of work, and through longevity, determining the need to accumulate retirement wealth. In … contrast, the age of retirement drives health through changes in the value of survival and the value of morbidity reductions …We examine within a life-cycle set-up the simultaneous choice of health care and retirement (together with consumption …

. The retirement age affects health through the value of survival and the value of morbidity reductions. We compare the …We examine within a life-cycle set-up the choice of health and retirement. Health care contributes to a reduction in … both mortality, determining the need to accumulate retirement wealth, and in morbidity, determining the disutility of work …