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 expectancy, and the value of life. We set up a a life cycle...

We integrate time-inconsistent decision making due to hyperbolic discounting into a gerontologically founded life cycle model with endogenous aging and longevity. Individuals can slow down aging and postpone death by health investments and by reducing unhealthy consumption, conceptualized as...

Population ageing is associated with increasing healthcare expenditure. To guide policy and the adaptation of health systems, however, a more accurate understanding of the quantitative effect of different components of ageing and other factors that influence cost dynamics is needed. This study...

Using high-quality Finnish register data and a regression discontinuity approach, we study the health effects of reaching the legal drinking ages of 18 and 20. Our results show that at age 18, when beer, wine, and car driving become legal, mortality and hospitalizations increase discontinuously,...

Using high-quality Finnish register data and a regression discontinuity approach, we study the health effects of reaching the legal drinking ages of 18 and 20. Our results show that at age 18, when beer, wine, and car driving become legal, mortality and hospitalizations increase discontinuously,...

The Philippines has been experiencing unprecedented economic growth in recent years. This has fueled greater consumption among households, and greater support for the expansion of government entitlements, particularly on health and education. Behind these developments, however, is the fact that...