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 … adaptation generally increases the value of life (by about 2 to 5 percent), its impact on health behavior and longevity depends …

biologically-founded life-cycle model of health deficit accumulation and endogenous longevity. We calibrate the model with U …

This paper provides a closed-form solution for the health capital model of health demand. The results are exploited in … model, the pure consumption model and a combination of both types of models. Given the plausible assumptions that (i) health … declines with age and that (ii) the health capital stock at death is lower than the health capital stock needed for eternal …

making of a couple into a biologically founded life-cycle model of health deficit accumulation and endogenous longevity. We …

thereby, in the context of health economics, not enough investment in health and too much indulgence of unhealthy consumption … health than they would if they had a constant rate of time preference. Using a calibrated life-cycle model of human aging, we … high weight in life time utility. In an extension we show that the introduction of health-dependent survival probability …

approach enables us to investigate the interaction between health and retirement policy in order to quantitatively characterize … implications for health inequality. Calibrating our model to Germany, we find that currently the public health and pension system … is approximately optimal. Future progress in medical technology calls for a potentially drastic increase in health …