An economic heory of depression and its impact on health behavior and longevity

Arbeitspapier

In this paper, I introduce depression to the economics of human health and aging. Based on studies from happiness research, depression is conceptualized as a drastic loss of utility and value of life (life satisfaction) for unchanged fundamentals. The model is used to explain how untreated depression leads to unhealthy behavior and adverse health outcomes: depressed individuals are predicted to save less, invest less in their health, consume more unhealthy goods, and exercise less. As a result, they age faster and die earlier than non-depressed individuals. I calibrate the model for an average American and discus the socioeconomic gradient of health and depression as well as the hump-shaped association of antidepressant use with age. Delays in treatment for depression in young adulthood are predicted to have significant repercussions on late-life health outcomes and longevity.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: cege Discussion Papers ; No. 337

Classification and Topics

• Classification: Wirtschaft ; Intertemporal Household Choice; Life Cycle Models and Saving ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡ ; Health: General ; Health Behavior
• Subject: depression ; depression therapy ; health behavior ; aging ; longevity

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Strulik, Holger
• Event: Veröffentlichung
• (who): University of Göttingen, Center for European, Governance and Economic Development Research (cege)
• (where): Göttingen
• (when): 2018

Further information

• Handle: http://hdl.handle.net/10419/173788
• Last update: 10.03.2025, 11:42 AM CET