Arbeitspapier
The health hump
In this paper, I suggest a novel explanation for a hump-shaped ageconsumption profile, based on human aging. The model integrates health in the utility function and utilizes recent estimates on the effects of health on the marginal utility of consumption. The parsimonious model has a closed-form solution for the age of peak consumption and the consumption level at that age relative to initial consumption. A calibration of the model with data from gerontology produces an empirically plausible hump in consumption.
- Language
-
Englisch
- Bibliographic citation
-
Series: cege Discussion Papers ; No. 263
- Classification
-
Wirtschaft
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Macroeconomics: Consumption; Saving; Wealth
Health: General
- Subject
-
health
aging
life-cycle consumption
- Event
-
Geistige Schöpfung
- (who)
-
Strulik, Holger
- Event
-
Veröffentlichung
- (who)
-
University of Göttingen, Center for European, Governance and Economic Development Research (cege)
- (where)
-
Göttingen
- (when)
-
2015
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Strulik, Holger
- University of Göttingen, Center for European, Governance and Economic Development Research (cege)
Time of origin
- 2015
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