Due to medical and technological progress, life expectancy has increased significantly over the past decade. A large share of this increase occurs for people over the age of 50. However, the rate of illness in the population is simultaneously increasing because the average number of people...

This paper discusses the relationship between medical innovations and ageing from a health economics perspective and surveys empirical evidence on medical R&D incentives, R&D costs of pharmaceuticals, and the cost-effectiveness of health innovations. Particular focus is on the endogeneity of...

When should you claim a pension (such as Social Security) in the US? Much current advice focuses on the increase in the annual pension benefit as individuals delay claiming a pension, an increase due to the actuarial fairness of the system. However, individuals face two risks: whether they live...