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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...
Persistent link: https://www.econbiz.de/10012064136
Persistent link: https://www.econbiz.de/10011796245